India will emerge as global new energy leader: Mukesh Ambani

“I believe that our Prime Minister believes in ensuring that this next generation of Indians will not only be self-sufficient and Atmanirbhar in our energy, but India can export Green Energy,” Ambani said in a Fireside Chat with Dr. R A Mashelkar, president, Pune International Centre, on ‘Green Energy for a Sustainable Future’ at the Asia Economic Dialogue 2022.

His optimism and confidence stem from three reasons. First: India is a country full of entrepreneurial spirit, innovation and youth. Second: It now has proactive and forward-looking policy support and action from the government, both at the central and the state level. Third: Indian entrepreneurs now have assured financing options. “I foresee at least 20-30 new Indian companies in the energy and tech space which will grow as big as Reliance, if not bigger, in the next 10-20 years,” said Ambani.

He added that India’s Clean and Green Energy exports in the next 20 years have the potential to reach half a trillion dollars. If in the last 20 years India emerged as an IT superpower; the next 20 years, along with technology, will mark the country’s emergence as a superpower in energy and life sciences.

“What is commendable is that the New Energy businesses in India are standing on their own two feet, with their own entrepreneurship, and very little support of or basis of any great government subsidies. Technological progress will make energy affordable on the basis of commercial viability; and it will be technology, and the entrepreneurial spirit, and the new business model that give values to customer that will drive the business and not government subsidies. And that’s encouraging about the new energy opportunities that I see,” Ambani stated.