There's no fact denying that Reliance Jio changed the entire Indian mobile broadband sector. With its free LTE services for seven months, Reliance Jio turned the tables of Indian telecom industry. Due to Jio's aggressive strategy, India has become the leading country in the mobile broadband usage country.
Speaking at the Hindustan Times Leadership Summit 2017 in New Delhi, RIL Chairman Mukesh Ambani said that the three biggest challenges before India are agriculture, education and healthcare, which will see a digital revolution in the next five years. And Reliance Industries wants to be the front-runner for bringing this change.
"Thanks to Jio, Indians already consume more broadband data than China and the US." He also added that India has the potential to grow three-fold in the next decade. "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! And within this century, India can become more prosperous than both China and the US," said Ambani.
"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 at the HT 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."
"Thirteen years ago, when I spoke here, India was a $500 billion economy. And I said in 2004, that India would be a $5 trillion economy in twenty years. Today that prediction seems certain. Indeed, it will be achieved well before 2024," said Ambani.
He also said everything changes with time. "The world is moving from linear to exponential. Such a process starts slowly but brings about big change rapidly... we are moving from scarcity to abundance. In the digital age, the price performance of everything changes," he said.
Ambani also suggested his competitors as losses and profits are risks in a business. "Profits and losses are risks that businesses take. We can’t rely on governments or regulators to ensure profit… As long as the consumers gain and country moves forward, the big boys should accept losses as part of the game," he concluded.