India can overtake China to become world’s number one economic power by 2047: Mukesh Ambani

Ambani was speaking at the fifth edition of the Bengal Global Business Summit.

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New Delhi: Reliance Industries Limited (RIL) Chairman Mukesh Ambani on Thursday exuded confidence that India can overtake China to become the world’s number one economic power by 2047.

Speaking at the fifth edition of the Bengal Global Business Summit, Ambani said, “In 2019, India is all set to become the world’s fifth largest economy, overtaking the United Kingdom. We are ahead of all countries except the United States, China, Japan and Germany. In about a decade, India will become the third largest economy with a GDP of over USD 10 trillion – which is about four times the size of our economy today,”.

“In two decades, India will become the second largest economy in the world. And if we all work hard, I am confident that India can even overtake China to become the world’s No. 1 economic power by 2047, the year when we celebrate the centenary, a 100 years of our independence,” he added.

Speaking about West Bengal's contibution, he said, Bengal along with the other eastern states, will contribute a quarter of India’s GDP by 2035.

“Bengal’s GDP has crossed Rs 10 lakh crores as compared to less than Rs 4 lakh crores at the beginning of this decade.”

“The rate of growth of the state’s GDP is 9.1 percent, which is higher than the national figure. This state accounts for the highest rise in credit flow to micro, small and medium enterprise (MSME) sector among all Indian states,” Ambani added.

He also highlighted that by embracing the revolutionary power of digital technologies India can solve the most complex problems of poverty, unemployment and underdevelopment.

Ambani hoped that 100% of the state’s population will be covered under Jio network within the current year 2019.