India will grow to be among top three economies in two decades: Ambani

Mr. Ambani says India’s middle-class, which is about 50% of the nation’s total number of households, will grow 3-4% per year.

Reliance Industries Chairman Mukesh Ambani. File photo

Mukesh Ambani on Tuesday said India will grow to be among the top three economies in the world in the next two decades and per capita income would more than double.

At a fireside chat with Facebook head Mark Zuckerberg, he said India’s middle-class, which is about 50% of the nation’s total number of households, will grow 3-4% per year.

“I firmly believe that in the next two decades, India will grow to be among the top three economies in the world,” said Mr. Ambani, who heads oil-to-retail-to-telecom conglomerate Reliance Industries Ltd.

He said, “More importantly, it will become a premier digital society, with young people driving it. And our per capita income will go from $1,800-2,000 per capita to $5,000 per capita.”

Facebook and a lot of other companies and entrepreneurs in the world have a golden opportunity to be in India, to be part of this economic and social transformation that will accelerate in the coming decades, he added.