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India turned world No1 in mobile broadband post Jio launch: Ambani
Even as Reliance Jio and Bharti Airtel have locked horns over several issues, Reliance Industries Limited Chairman Mukesh Ambani on Friday said Airtel Chairman Sunil Mittal was a friend and not a rival.
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New Delhi
Reliance Industries Chairman Mukesh Ambani on Friday said India ranks first in the world in terms of mobile broadband penetration, consuming more mobile broadband data than users in the US and China.
“Just one year back, India was ranked 150th in the world for mobile broadband. Now it is number one, after the launch of Jio,” Ambani said here at a Leadership Summit.
“Today, Indians consume more mobile broadband data than users in USA and China.
If data is destiny, new India is well and truly ready for its new tryst with destiny,” he added.
Talking about the economy, the Reliance Industries Chairman said the country can triple its growth from the current GDP of $2.5 trillion to $7 trillion in the next ten years and upgrade its rank from number six to the third largest economy in the world.
“Can we triple it (GDP) to $7 trillion in the next ten years and become the third largest economy in the world? Yes, we can,” Ambani asserted.
“Thirteen years ago, when I spoke here, India was a $500 billion economy. And I said in 2004, that India would be an $5 trillion economy in twenty years. Today that prediction seems certain. Indeed, it will be achieved well before 2024,” said Ambani.
"Let me correct you. Sunil is a good friend and not a rival. I think what he said and what may have been interpreted may be different. But let me make my point of view clear. I think that for all of us in the industry, profits and losses are risks that we take. And I don't think that we can rely on governments and regulators to guarantee our profits and losses," Ambani said while replying to a question at the HT Leadership Summit here.
He was asked to respond to comments by Mittal recently that said Jio's foray into Indian telecom market with its free voice and data offer had made incumbent players to write off investments of up to $50 billion.
"To me what is most important is, do we really move the country forward and does the consumer gain. And I think that the question that you should be thinking about is that even if there are profits and losses, who gains and who loses? And as long as the consumer gains and the country moves forward, it is worth taking those losses, right? Some of us are big boys, we can afford that," Ambani added.
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