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Mukesh Ambani strikes right political notes at the AGM

P Manoj Mumbai | Updated on August 12, 2019 Published on August 12, 2019

Chairman of Reliance Industries Limited Mukesh Ambani at 42nd Annual General Meeting (Post-IPO) of Reliance Industries Limited. Photo: Paul Noronha   -  BusinessLine

Mukesh Ambani struck the right political notes at the annual general meeting of Reliance Industries Ltd on Monday unlike some of his peers in the industry, who have blamed the government for the lacklustre performance of the Indian economy.

Backing the Prime Minister Narendra Modi’s call after the abrogation of Article 370, Ambani said Reliance “stand committed to support the people of Jammu & Kashmir and Ladakh in all their developmental needs”. “Reliance will create a special task force and you will see a lot of announcements on Jammu, Kashmir and Ladakh and our developmental initiatives in the coming months,” he said.

Referring to the slow down in some sectors of the economy, he said it was only “temporary”. This was because “the fundamentals of the Indian economy are very strong and opportunities will grow further with structural reforms”.

Besides, Ambani said now “India has political stability”.

The government, according to him, is laying the foundation of new institutions for business promotion and regulation.

“New long-term measures are being taken to improve ease of living for all citizens and reduce income inequality… India is rising and no power on earth can stop India from rising higher,” he said.

‘New India’

Borrowing a leaf out of Modi’s oft repeated words “New India”, Ambani said that “as India is getting transformed into New India, Reliance will also transform itself into New Reliance”.

Ambani “fully endorsed” Modi’s ambitious goal of making India a $5-trillion economy by 2024 and even went a step further by saying that he clearly saw “India becoming a $10-trillion economy by 2030, with every Indian as a beneficiary”.

Published on August 12, 2019
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