IMC: Data is the new oil which India doesn't need to import, says Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani today said that in the next 10 years, India will grow from a $2.5 trillion economy to a $7 trillion economy and rank among the top three economies in the world and to make this happen, the Indian telecom and IT industry has to play a foundational role in creating the digital infrastructure.

He said, "Data is the new oil which India doesn't need to import it. We have it in super-abundance.It will be a new source of value and will create opportunities and
prosperity for India and millions of Indians."

Ambani added that "Data is the oxygen of a digital economy. We cannot deprive Indians of this vital life-sustaining resource.We have to provide ubiquitous access to high-speed data at affordable prices and at the same time, we have to ensure that every Indian has access to the affordable smartphone that connects them to limitless knowledge and the power of the internet.

At the same time, we have to ensure that every Indian has access to an affordable smartphone that connects him to limitless knowledge and the power of the Internet.
Young Indians, who account for 63 percent of the nation's population, have the competence to build new digital businesses."

The Indian mobile market is now overflowing with data. All of us have worked to create a robust digital circulatory system to carry data to each one of the 1.3 billion Indians, including those living in the remotest village.

4G coverage in India will become larger than the 2G coverage within the next 12 month, Ambani pointed out that.