IMC 2017: Data is new oil, India does not need to import it says Ambani

NEW DELHI: At India Mobile Congress (IMC) 2017, Reliance Industries Limited (RIL) Chairman & Managing Director (CMD) Mukesh Ambani has said data is the new oil and India does not need to import it.

The three days event has kicked off at Pragati Maidan in New Delhi.

“An event that signals that India is one of the biggest telecom & digital markets in world.The pace at which the Indian Mobile Industry has grown is unparalleled in the world,” he said.

“In next 10 years, India will grow from a $2.5 trillion economy to a $7 trillion and rank among the top 3 economies in the world,” he added.

The fourth industrial revolution, fuelled by connectivity, data and Artificial Intelligence has begun. Data is the new oil. India does not need to import it. We have it in super-abundance,” he added.

“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,” he added.

“I believe that 4G coverage in India will become larger than the 2G coverage within the next 12 months. There is an urgent need to apply the revolutionary powers of digital technologies to India’s pressing needs and challenges,” Ambani said.

“Digital technologies can be a boon for achieving our national priorities of energy security, water security & resource security. India must embark on the task of connecting everything and everyone via the Super-Internet of Things,” he said.

“This will enable 130 crore Indians to collaborate directly with one another and democratizing economic life like never before. To realise our beloved Prime Minister’s Digital India Dream to the fullest, we have to start by becoming the change that we seek to create,” Ambani said.

“We have to invest in building next-generation technology assets. We have to root out inefficiencies across the digital ecosystem. We must break silos & forge partnerships. No single corporate nor the government can do it alone. Together, we can achieve the unimaginable,” he said.

“The opportunity to pave the path for our nation’s progress, and create a better quality of life for every Indian beckons us,” Ambani concluded.