India Can Become a $40 Trillion Economy By 2047: Mukesh AmbaniBy the end of 2022, Reliance will cross the half-way mark of its golden decade and in five years from now it will complete fifty years

The next 25 years are going to be the most transformational in the 5,000 year-old history of India. "We can become a $40 trillion economy by 2047 – the centenary of our Independence — in a sustainable and stable manner," said Mukesh Ambani, chairman and managing director of Reliance Industries Ltd., at the Reliance Family Day function.

At a time when uncertainty, volatility and even regression can be seen in many parts of the world, India is being regarded globally as a shining spot. Acutely aware of this opportunity and responsibility, Reliance has embarked on a journey of comprehensive self-transformation. By the end of 2022 Reliance will have crossed the half-way mark of its golden decade, in five years from now, Reliance will complete its fifty years.

Talking about his expectations from the leaders and employees in businesses and initiatives, he said, "Under Akash Ambani's chairmanship, Jio is rolling out the world's best 5G network across India at a pace, which is faster than anywhere in the world. Jio's 5G deployment will be complete in 2023," he said, adding that Jio platforms should now get ready for India's next big opportunity – to provide unique digital products and solutions to both domestic and international markets.

Talking about the retail business, he said, "Our Retail business has grown rapidly. It has emerged as one with the widest and deepest reach in India, across all product baskets. Most significantly, Reliance Retail has created over two lakh new jobs last year, becoming one of India's leading employers."

The conglomerate continues to build its leadership in the O2C business with new capacities and capabilities. "In the E&P Segment, our team continues to work harder for providing energy security for India."

The group is also focusing on its media & entertainment business and its integration with the digital services that will reinvent the industry completely. New Energy is Reliance's newest startup business, "The goals before our New Energy Team are crystal clear, it will enable India to achieve security and self-sufficiency in energy by reducing the dependence on imports."

The year 2023 will also be a year of renewal and revitalisation for Reliance Foundation: It is working on ambitious new initiatives in education, healthcare, sports, women's empowerment and ecological conservation.