‘Trump is a Blessing for Indian IT’ RIL chairman says Trump will make Indian talent focus on India and find solutions for issues here
Mumbai: Even as election of Donald Trump as the US President has raised the hackles of the Indian IT industry, Mukesh Ambani, the chairman of India's largest private sector company Reliance Industries said that it may instead prove to be a blessing in disguise for the $155billion industry.
“Trump will be a blessing in disguise. He will make Indian talent focus on India and find solutions for India,” said Ambani at the Nasscom India Leadership Forum. He added that the India market is huge and has the potential to become the largest software market in the world. He, however, cautioned the country against adopting any retaliatory protectionist policies.
“The world will try to build a wall. But, we should not be influenced by that. It is very important to be open and have partnerships,” he said.
Talking about the potential for technology use in the country, Ambani said that we are at an exciting time in human history and data is the new oil. “The fourth industrial revolution is all about convergence of physical, digital and biological sciences… At the foundation of the fourth industrial revolution is connectivity and data. Data is the new natural resource, this has to be processed to intelligence for it to be useful but I do believe that we are at the beginning of an era where data equals oil.” He added that India will have a competitive advantage here with its population of 1.3 billion people and huge amount of data generated by them.
Ambani’s latest venture Jio shook the telecom industry sparking a wave of consolidation. He said that Jio covers almost 95% of the people in the country and as the world digitises, the next step will be partnerships.
Ambani hailed out to Nandan Nilekani, the founder-chairman of the Unique Identification Authority of India (UIDAI) for building Aadhaar, which has enabled real-time customer authentication for registering new telecom connections. “Without Aadhaar, we wouldn’t have been able to enroll one million people a day,” he said. Ambani also spoke about how new technologies such as artificial intelligence and natural language process could empower millions of people. “What happens to millions of Indians when they can speak to their mobile phones in their languages and get answers. It will redefine the quality of information and services, that is an opportunity that was impossible before,” he said.
Addressing the count- ry’s booming startup ecosystem, Ambani said that they should focus on solving real problems, which do good to people in some way and not focus on financial returns alone.
ON STARTUPS Treat your investors’ money even more carefully than your own & it is very important to align the team passionately with your own mission MUKESHAMBANI Chairman, Reliance Industries