Data the new oil, should ensure access for every Indian: Mukesh Ambani

Reliance Industries chairman Mukesh Ambani addressed the first-ever "India Mobile Congress 2017" in New Delhi on Wednesday.

India's top industrialist, who is the chairman of Reliance Jio, said that according to him, 4G coverage will take over 2G connectivity in India in the next 12 months.

Calling internet data the new oxygen, the Reliance Jio chairman said it was the "new oil for 1.3 billion Indians" and stressed that India does not need to import it.

"Data is the new oxygen, new oil for 1.3 billion Indians. India does not need to import it, has to ensure every Indian has access to it...Our aim is to not only provide high-speed data at affordable prices but also affordable smartphones to help people connect better with the Internet," Mr Ambani said.

 "Growth in India's mobile data market is unparalleled in the world," he added.

He also emphasised the need for investing in creating next-generation technology, breaking silos, and forging partnerships.

India's top industrialist predicted that India will lead the fourth industrial revolution with a synergy between the telecom and the Information and Technology industry which would lay the foundation of empowering 1.3 billion Indians.

He said the Indian economy would grow from USD 2.5 trillion to over USD 7 trillion and rank among top 3 economies in next 10 years, thanks to the contribution of the Indian telecom and IT industry which would play a key role in creating digital transformation.