India will be at par with US, China by 2047, Indian model necessary for development: Mukesh Ambani, India can be at par with US and China by 2047: Mukesh Ambani

New Delhi : Industrialist Mukesh Ambani, the country’s richest man, believes that the benefits to citizens of India’s three decades of economic reforms have been “unequal”. He said that the ‘Indian model’ of development is necessary for the creation of wealth at the lowest strata of the society. However, with this, Ambani expressed confidence that by 2047, the country can reach at par with the US and China.

On the occasion of the completion of 30 years of economic liberalization in the country, the Chairman of Reliance Industries has said in an article that due to bold economic reforms, our Gross Domestic Product (GDP) which was $266 billion in 1991, today it has increased ten times. Already happened. Ambani, who heads the largest Indian company by market capitalization, has rarely written such articles.

lauded the economic reforms of 1991

Ambani has said in his article published in ‘The Times of India’, ‘India was a deficit economy in 1991, which turned into a surplus economy in 2021. Now India has to transform itself into an economy of surplus and equal prosperity for all at a sustainable level by 2051. Ambani wrote that India showed the vision and courage in 1991 to change both the direction and determination of the economy.

“The government has also placed the private sector at an impressive height in the national economy. In the last four decades, this space was available only to the public sector. This ended the licence-quota raj, liberalized trade and industrial policies, and ‘liberated’ the capital market and financial sector.’

‘India will be equal to America, China’

Ambani said that these reforms enabled India to become the fifth largest economy in the world. During this period, although the population increased from 88 crores to 138 crores, the poverty rate was halved. “Critical infrastructure has improved much more than we thought,” Ambani said. Now our expressways, airports and seaports are world class. Same is the case with our industries and services.

He wrote, ‘Now it would seem unimaginable that people had to wait for telephone or gas connections. Or else companies had to get government approval to buy computers. He said that in 2047 we will celebrate the hundred years of our independence. What can be a bigger dream than this that by that time we will be able to make India one of the three richest countries in the world. We will be at par with America and China.

‘Atmanirbhar Bharat is necessary’

Ambani said that the road ahead is not easy but we do not have to panic about the sudden temporary problems like the epidemic. Nor is it distracting from non-important issues. ‘We have the opportunity and at the same time it is our responsibility to turn the next 30 years into the best years of independent India’s history for our children and youth.’ Ambani said that to achieve this goal, it is necessary for India to be self-reliant and co-operating with the rest of the world.