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27 September 2017
 |
| Mukesh Ambani (The Total Investment & Insurance Solutions) |
Reliance
Industries Ltd Chairman Mukesh Ambani on Wednesday said data is the new oil and
India does not need to import it.
"Data is the new oil. India does not
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 said while addressing the India Mobile Congress here.
"As a nation, we missed out on the first
three global industrial revolutions -- namely mechanisation, mass production
and automation. The Fourth Industrial Revolution, fuelled by connectivity, data
and Artificial Intelligence, has now begun.
"India
now has the opportunity to lead the Fourth Industrial Revolution, which is set
to usher in more dramatic transformations globally than the three previous
revolutions. Mobile Internet and cloud computing are the foundational
technologies in the Fourth Industrial Revolution."
Ambani said India has leapfrogged from a
lowly 155th in mobile broadband penetration to being the world`s largest mobile
data-consuming nation in just one year.
He further said: "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."
Ambani said 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.
"Within the next 12 months, 4G coverage
in India will become larger than the 2G coverage. There is an urgent need to
apply the revolutionary powers of digital technologies to India`s pressing
needs and challenges."
He charted out three must-do tasks for the
industry and government alike.
First, he said: "We must explore and
implement innovative ideas to generate employment, self-employment and
income-generation opportunities for millions of Indian youth."
Secondly, he said digital technologies can be
a boon for achieving national priorities of energy security, water security,
and resource security and, thirdly, India`s human capital is our greatest
asset.
"Therefore, digitalisation of education,
training and human resource development in a comprehensive manner must be
regarded as a precondition for the success of Digital India. To accomplish all
these tasks, the telecom and IT industry will have to partner with every sector
of the economy and government, every business and every institution, from the
biggest to the smallest."
"I believe 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."The Total Investment & Insurance Solutions
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