India is set to grow into a $40-trillion economy from the current $3-trillion one by 2047, ranking among the top three economies of the world, said Mukesh Ambani, Chairman of Reliance Industries Limited.

The country will witness an unprecedented explosion in economic growth and opportunities in the coming years, the billionaire said while virtually addressing the 10th annual convocation of the Pandit Deendayal Energy University (PDEU) in Gandhinagar on Tuesday.

“Three game-changing revolutions will govern India’s growth in the decades ahead,” he said, pointing at clean energy revolution, bio energy revolution and the digital revolution. “While the clean energy and bio energy revolutions will produce energy sustainably, the digital revolution will enable us to consume energy efficiently,” said Ambani.

Notably, the Reliance group has set aside ₹75,000 crore as investment towards the renewable energy sector. Taking note of the green initiatives taken by the Tata Group under the leadership of N Chandrasekaran, Ambani said, “The steps reflect his faith in the ability of new energy technologies to lead us to a better and brighter future.”

New perspectives

Chandrasekaran, in his address, talked about the new perspectives on science and technology and how it will have an impact on global growth. He asked the graduating students to keep learning to stay updated with the changes taking place around them.

“If India has to become a renewable energy powerhouse, it is possible through the combined will and initiatives of many leading business groups working with the ethos of a national coalition,” he said.