Mukesh Ambani sees a 'tsunami of opportunities' for entrepreneurs

Indian entrepreneurs are now capable of providing world-beating quality at competitive costs, said the RIL chairman at the virtual 22nd Entrepreneur of the Year - India (EOY) 2020 Awards ceremony

With the Indian Prime Minister Narendra Modi advocating a greater role for the private sector coupled with India's access to high end technology, Mukesh Ambani, Chairman and MD of Reliance Industries sees a "tsunami of opportunities" for young Indian entrepreneurs.

Addressing the virtual 22nd Entrepreneur of the Year – India (EOY) 2020 Awards ceremony, Ambani said India should welcome Modi's initiative for a greater role for the private sector India's future development.

Ambani said India now has the revolutionary power of new technologies to transform the economy. "Small, medium and big businesses have once-in-a-lifetime opportunity to meet the needs and aspirations of 1.3 billion people for good quality of life. We have the potential in the coming decades to be among top three economies of the world," Ambani said.

New sectors such as clean energy, education, healthcare, life sciences and biotechnology and transformation of existing agricultural, industrial, and service sectors offer unprecedented opportunities, he said.

"Indian entrepreneurs are now capable of providing world beating quality to meet the needs of our market at the most competitive cost. This opens-up the entire global market for Indian entrepreneurs. Hence, Indian entrepreneurs have dual opportunities, first, to serve the domestic markets and then the global markets," added Ambani.

Ambani said the the key driving force of India will be its entrepreneurs, and of whom  who have started new businesses. "Start-up entrepreneurs must be ready to work with limited resources but with unlimited determination,"  Ambani, now among the top ten richest in the world, advised the new entrepreneurs.

"My message is not to be deterred by failure, because only after many failures there is success. I am sure as an entrepreneur you will have the courage and the determination to succeed. Therefore, I am absolutely confident that you are going to script far bigger success stories for India then the entrepreneurs of my generation," he told the gathering.