Indian corporate giant Reliance Industries is seeking partnership with global players for a new venture aimed at bridging the gap between urban and rural India, Group Chief Mukesh Ambani's wife Nita Ambani has said.
Noting that India is capable of becoming a USD 30-40 trillion economy by 2040, Nita Ambani, Chairperson of RIL Group's philanthropy arm Reliance Foundation, said that the milestone would make the country poverty-free.
Delivering the Champben & Jamnadas Modi/K R
Narayanan PhD Fellowship lecture at the London School of Economics here last night, she elaborated on the Reliance Group's plan to build bridges between the rural and urban India.
"It will be a unique partnership of private, public and the citizen sector and we seek global partnership in this venture," she said.
"We all have a big dream for India. It has the potential to become a staggering USD 30 to 40 trillion economy by 2040 and when this dream comes true, India will be poverty-free," Ambani noted.
"This will be India's third and real freedom, freedom from poverty. If 1947 was the first freedom, to my mind 1991 was the 2nd freedom - economic freedom - freedom that
unleashed our entrepreneurship to compete in the world."
She said the freedom from poverty is possible "if we energise our youth and build an economic system, and institutions that provide an opportunity to realise the full potential of our 1 billion plus people."
Remembering the time when she met Mukesh, she said: "In the late 1970s and early 80s when Mukesh and I met, India was considered a third world country. It has been fascinating to see the journey from third world country to the third most powerful country in the world."
The topic of the lecture was "Towards an Indian Renaissance: Building Institutions of Excellence."
Noting that India's advantages can be summarised as 3 Ds - Democracy, Diversity and Demographics, Nita Ambani, also chairperson of Dhirubhai Ambani International School and Sports JV IMG-Reliance, said the real explosion would happen when the 4th 'D' of discipline would get integrated.
"Discipline will bind the country and align it in its pursuit to become a truly advanced economy."
After arriving here with Mukesh Ambani Friday afternoon in their special chartered flight, Reliance I, the couple also attended a dinner hosted by Professor Lord Nicholas Stern, IG Patel Professor of Economics at the LSE.
The dinner was attended by Britain's Secretary of State for Business Dr Vince Cable, Lord Meghnad Desai, Barry Gardiner, MP, and Manoj Ladwa, a leading solicitor.
In her hour-long lecture, which was repeatedly applauded by the packed gathering, Ambani said "India is now changing and regaining its lustre and it is coming of age."