India's Where You Bet Your Money: Mukesh Ambani

Reliance Industries chairman Mukesh Ambani said he expects India to almost treble in size to a $7-trillion economy from $2.5 trillion and that the country represents the biggest investment opportunity in the world right now.

Giving his acceptance speech at the Economic Times Awards for Corporate Excellence, Ambani, who won the `Business Leader of the Year' award, said Reliance took a contrarian bet to invest Rs.3.5 lakh crore in India and that has paid off handsomely. The significant portion of that investment was in Jio.

Reliance Jio Infocomm, which launched services in September last year, disrupted the market by introducing free voice for life for the first time and cheap data prices.

Ambani referred to the intense rivalry with the older telecom companies that was sparked by Jio's entry, suggesting that the relationship is still amicable. Jio's 140 million customers have made India the world's No 1 mobile data market. “I firmly believe with digital technology and exponential technology, the world will change (more) in the next 20 years than in the last 300 years,“ Mukesh Ambani said.

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