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Painting an optimistic picture of India, Chairman of Reliance Industries Mukesh Ambani said India can solve its current account deficit problem by increased use of technology across all spheres of industries and especially in the energy sector.
Addressing a gathering of Asia Society in Mumbai on the launch of a collection of essay called “Reimagining India” on Tuesday evening, Ambani said delivery of education, means of livelihood and health care services can be expedited if the country embraces technology. “India is not behind in innovation. By embracing technology, education can be provided to all Indians across the country,” Ambani said.
On CAD, Ambani said today India has a current account deficit problem mainly due to import of energy products like oil & gas. “For a country like India, there is no other option but to rely on technology, even to solve our energy problems” said he. The United States, one of world’s biggest energy consumer, has now become an exporter of gas - thanks to improved technology to generate gas from shale deposits. The gas prices also tanked in the US to just $2 a unit due to shale gas production. This model can be replicated in India.
"But a pre-requisite to solve CAD problem is education and to make 250 million young Indians acquire skills and make most of available technology," he said. Ambani is one of the contributor to the book alongwith CNN’s Fareed Zakaria; Microsoft cofounder Bill Gates; Google chairman Eric Schmidt; Harvard Business School dean Nitin Nohria; Bharti Airtel Chairman Sunil Mittal and Nandan Nilekani, cofounder of Infosys and chairman of the Unique Identification Authority of India.
Ambani said broadband technology is providing access to opportunities irrespective of geographies. “So, you can access them in all the 5,432 small towns and cities, and 6,00,000
villages in a matter of a couple of years and then scale up. That is what gives me optimism and positivity," Ambani said. Reliance is investing close to $5 billion in the launch of broadband services in India.
Ambani said it is important to bring close to 700 to 800 million Indians - who remained excluded from India’s success story in the last 20 years - to the economic mainstream. “If we manage to bring this segment into the economic mainstream, it will result in enormous enhancement of India’s economic and non-economic power as we will generate equality in access despite inequality income,” said he.
Mahindra Group Chairman Anand Mahindra said India has a chance to create a completely new template. He said smaller states are better to manage. "I have no problem about more states coming up. If size is the issue, make it (states) more manageable," Mahindra said.
Reimagining India: Unlocking the Potential of Asia’s Next Superpower is published by McKinsey and it brings together leading thinkers from around the world to explore and debate the challenges and opportunities facing the country.
http://www.business-standard.com/article/companies/technology-can-help-solve-cad-problem-says-ambani-113111300196_1.html
Addressing a gathering of Asia Society in Mumbai on the launch of a collection of essay called “Reimagining India” on Tuesday evening, Ambani said delivery of education, means of livelihood and health care services can be expedited if the country embraces technology. “India is not behind in innovation. By embracing technology, education can be provided to all Indians across the country,” Ambani said.
On CAD, Ambani said today India has a current account deficit problem mainly due to import of energy products like oil & gas. “For a country like India, there is no other option but to rely on technology, even to solve our energy problems” said he. The United States, one of world’s biggest energy consumer, has now become an exporter of gas - thanks to improved technology to generate gas from shale deposits. The gas prices also tanked in the US to just $2 a unit due to shale gas production. This model can be replicated in India.
"But a pre-requisite to solve CAD problem is education and to make 250 million young Indians acquire skills and make most of available technology," he said. Ambani is one of the contributor to the book alongwith CNN’s Fareed Zakaria; Microsoft cofounder Bill Gates; Google chairman Eric Schmidt; Harvard Business School dean Nitin Nohria; Bharti Airtel Chairman Sunil Mittal and Nandan Nilekani, cofounder of Infosys and chairman of the Unique Identification Authority of India.
Ambani said broadband technology is providing access to opportunities irrespective of geographies. “So, you can access them in all the 5,432 small towns and cities, and 6,00,000
villages in a matter of a couple of years and then scale up. That is what gives me optimism and positivity," Ambani said. Reliance is investing close to $5 billion in the launch of broadband services in India.
Ambani said it is important to bring close to 700 to 800 million Indians - who remained excluded from India’s success story in the last 20 years - to the economic mainstream. “If we manage to bring this segment into the economic mainstream, it will result in enormous enhancement of India’s economic and non-economic power as we will generate equality in access despite inequality income,” said he.
Mahindra Group Chairman Anand Mahindra said India has a chance to create a completely new template. He said smaller states are better to manage. "I have no problem about more states coming up. If size is the issue, make it (states) more manageable," Mahindra said.
Reimagining India: Unlocking the Potential of Asia’s Next Superpower is published by McKinsey and it brings together leading thinkers from around the world to explore and debate the challenges and opportunities facing the country.
http://www.business-standard.com/article/companies/technology-can-help-solve-cad-problem-says-ambani-113111300196_1.html
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