Reliance Industries Limited (RIL) chairman Mukesh Ambani on Wednesday said India is likely to become the world's third largest economy by 2030.
The billionaire businessman also exuded confidence that India would take over Japan to become the second largest economy in Asia.
INDIA TO OVERATKE JAPAN
"India is likely to overtake Japan as Asia's second largest economy, and the world's third largest economy by 2030," Ambani said while speaking at the Asia Economic Dialogue (AED) 2022.
GLOBAL GREEN ENERGY SUPERPOWER
India could become a global green energy superpower with exports of clean energy rising to $500 billion over the next 20 years, Ambani said.
"When India becomes self-sufficient in green and clean energy, it will help us emerge as a global power. This transition will have other benefits, such as a huge number of green jobs. The Energy Transition will also determine the Geopolitical Transition in the 21st century," Ambani said.
"If the last 20 years, we were known for India's emergence as an IT superpower, next 20 years, I believe, along with technology, will mark our emergence as a superpower in energy and life sciences," Ambani, one of Asia's richest persons, said.
DEPENDENCE ON FOSSIL FUELS MUST END
Ambani said India should have a strategy to end dependence on fossil fuels in the next two to three decades.
"For the next two to three decades, India's dependence on coal and imported oil will continue. But, we must have a plan to eliminate that in the next two to three decades."
Ambani said India would have to follow "low-carbon and no-carbon strategies" in the near and medium term.