Mukesh Ambani calls for disruptive polices to change the dynamics of economics
Filed Under: Business | Posted: 03/08/2011 at 2:19AM
Comments | Region: India
For country that today enjoys $1.3 billion GDP annually; the future of India seems to be on a legato slope that is bright with opportunity for growth and development. And the likes of Mukesh Ambani, the head honcho of Reliance Industries Limited (RIL), are happy to propel this aspirational future.
At the AGM FICCI, Mukesh Ambani expressed his views vehemently and vociferously with reference to the potential Indian companies and Indian entrepreneurs possess in thrusting not just their businesses but the overall economy to the pedestal of world’s best. He suggested that one thing that can help India push the mettle furthermore would be by introducing disruptive policies and fundamentally different solutions that will help meet future challenges rather easily.
Like the liberalization policy reformation of 1991 that opened for India many new avenues for modeling modern business enterprises with integrated efforts, the current situation of India demands yet another renaissance of sorts; one that focuses on policies that encourage co-operative growth with value-addition, rather than just infrastructural development. The disruptive policy of 1991 allowed India to compete with the rest of the world, and another policy reformation will pivot the economy towards the larger goal rather than quick developments.
Post 1991, India has been able to generate six times the GDP it did two decades back; growing at 8% annually. It is predicted that the economy will hit 9.5% in near future as the demographics of business function and models change with change in global demand. In the current spate of inflation, Mukesh Ambani emphasized on encouraging horizontal growth in the rural and agricultural quarters, as it is this section of population that contributes to more that 50% of India’s total revenue. When growth benefits the lower tiers, there exists opportunities for higher tier members to facilitate augmentation of their business, by creating value in their functions. Giving the example of Reliance Industries Limited, Mukesh Ambani was enthusiastic about modern day entrepreneurs and their stalwart endeavors towards working for the bigger picture.
He emphasized that with provision for proper healthcare, education and empowerment opportunities, India in sure to win the race towards world supremacy, given the economic policies support this ardent cause with full might.