- The Indian economy will see growth from its current state to reach a value between $25 trillion and $30 trillion, which is equivalent to approximately ₹2,250 lakh crore to ₹2,700 lakh crore, within the next two to three decades according to Mukesh Ambani who chairs Reliance Industries. The extended period of economic expansion will generate significant investment prospects which will particularly benefit young people in India according to him.
- According to Ambani, India will experience the establishment of 100 companies that will match the operational size of Reliance Industries, which will emerge from the country's current ambitions and industrial growth. He attributed ongoing economic growth to Prime Minister Narendra Modi's administration because of its stable government policies and economic development policies. He spoke at the Jio-BlackRock event held in Mumbai which featured a panel discussion about investment strategies for the future.
The High Investment in Gold and Silver Raises Concerns
- Mukesh Ambani highlighted India’s traditional focus on savings. He expressed concern that in the previous year, Indians invested around $60 billion (about ₹5.4 lakh crore) in gold and $15 billion (about ₹1.35 lakh crore) in silver.
- He said that investments of this type make wealth inactive while they prevent economic development. He believes that when people use their savings for capital markets, their families will create wealth while they also help the economy of the country grow.
- BlackRock CEO Larry Fink supported this view. He said that in a fast-growing country like India, long-term equity investments are a strong source of wealth creation.
Role of AI in Education and Healthcare
- Ambani stated that India achieves its economic progress through effective governmental policies and stable political conditions and major infrastructure initiatives and growing digital technologies. He stated that increased capital market activity has made India a desirable destination for investors who want to stay longer than one year.
- He talked about artificial intelligence which he predicted would transform educational systems and medical treatment facilities. In the future artificial intelligence will provide educational support to an estimated 200 million students. The system will enable better healthcare delivery together with public service improvements for the 1.4 billion people living in India.
AI Investment Is Essential, Says Larry Fink
- Larry Fink predicted that India would experience economic growth between 8 and 10 percent during the upcoming decade and beyond. The growth outlook makes him support Indian investments which he urges Indian citizens to pursue.
- He stressed that retirement savings represent a crucial method through which people should invest their money to strengthen the economy through domestic investments. Fink stated that he does not consider the existence of an artificial intelligence investment bubble. Fink warned that countries which refuse to invest in artificial intelligence technologies will lose their competitive edge to countries like China which will continue to progress.
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