“India’s technology and digital exports have risen to $150 billion from less than $10 billion 20 years ago. By 2030, I believe they will exceed half a trillion dollars. Similarly, India’s Clean and Green Energy exports in the next 20 years at the end of 20 years also has the potential of half a trillion dollars of export.” Ambani said while speaking to Asia Economic Dialogue.
“If the last 20 years, we were known for India’s emergence as an IT superpower; the next 20 years, I believe, along with technology, will mark our emergence as a superpower in energy and life sciences,” Ambani said.
“I foresee at least 20-30 new Indian companies in the energy and tech space which will grow as big as Reliance, if not bigger, in the next 10-20 years.”Ambani said.
“When wood was replaced with coal, Europe overtook India and China to emerge the world leader. Similarly, with the emergence of oil, the US and West Asia outgrew others.
When India becomes not only self-sufficient in Green and Clean Energy, but also a large exporter, it will help India emerge as a global power,” he said.
“Let me put this in perspective for our audience. It took Reliance about 15 years to become a $1 billion company. 30 years to become a $10 billion company. 35 years to become a $100 billion company. And 38 years to touch a $200 billion company,” Ambani said.
“I have no doubt that the next generation of Indian entrepreneurs will achieve this in half the time. What this also means is that India’s community of entrepreneurs will become broader and wealth creation will also become more inclusive.”
“Technological progress will make energy affordable on the basis of commercial viability; and it will be technology, and the entrepreneurial spirit, and the new business model that gives values to the customer that will drive the business and not government subsidies. And that’s encouraging about the new energy opportunities that I see,” he said.
“India must increase energy output, and we have to do it at an affordable basis for the use of technology. Second, India must increase the share of green and clean energy in this enhanced output. And third, India must achieve the goal of ‘self-reliance or Atmanirbhar Bharat’ in pursuing the above two challenges,” he said.
Prime Minister Narendra Modi has set a target to make India a net-zero carbon emitter by 2070. The nation plans to install 450 gigawatts (GW) of renewable energy by 2030, from about 105 GW currently, and has recently announced a plan to produce 5 million.
As of 31 December 2021, the total installed capacity for renewable energy in India is 151.4 GW.
It is expected that by 2040, around 49% of the total electricity will be generated by renewable energy as more efficient batteries will be used to store electricity, which will further cut the solar energy cost by 66% as compared to the current cost. Use of renewables in place of coal will save India Rs. 54,000 crore (US$ 8.43 billion) annually. Renewable energy will account for 55% of the total installed power capacity by 2030.
The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is under installation in Gujarat. 45 solar parks of aggregate capacity 37 GW have been approved in India.
“India’s progress is unstoppable. We will become a 5-trillion-dollar economy, and we will become a 10-trillion-dollar-economy. We can only argue about whether it happens in 2025 or 2027 or whether in 2030 or 2032,” he said.
“India’s per capita income today is around $2,000, compared to Europe’s $38,000. I believe that with our progress, we will reach $10,000 per capita in the next 15-20 years,” he said.
Let all his words become true so that India really emerges as a Global Power in near future.
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