Need to rethink and reinvent Indian manufacturing: Mukesh Ambani

New Delhi [India], October 19 (ANI): Chairman of Reliance Industries, Mukesh Ambani on Monday said that India must rethink and reinvent manufacturing, like it did its refining and petrochemicals to make the country's manufacturing sector globally competitive.
He was responding to the query by Maruti Suzuki Chairman RC Bhargava in Q and A in Delhi during the virtual launch event of N K Singh's book "Portraits Of Power: Half A Century of Being at Ringside".
"We just have to rethink and reinvent manufacturing, I would agree that some areas - like if you take our own refining and petrochemicals, where we are the most globally competitive - the opportunity for us is to embrace the future industries, think in terms of ecosystems. Three specific things we can do for leadership is to strengthen our small and medium sector," said Ambani.
He further added, just like we have startups in technology sector, he thinks India is ripe now to support our small and medium sector entrepreneurs and get them the physical start up.
We need as much thinking about bricks as we have about clicks, and we need to think in terms of an entire ecosystem that delivers future industries and future services and I think that we are already on the way, with what we have done with batteries and solar and all the technologies of the fourth industrial revolution.
"If we do that right, rather than worry about the past, we can think about the future then the future is not going to be an extension of the past. We can create our new destiny in terms of eco system, platforms and manufacturing which then becomes a high employment generation piece and we then have a play not only for our domestic market, but all the marginal pieces we can support to the international market," said Ambani.
Ambani was responding to a question by Maruti Suzuki Chairman RC Bhargava that Indian manufacturing has still not become globally competitive and why is manufacturing growth slower than what we would like. What can be done?
Responding to a question about How he wished to be remembered as, Ambani said: "Well, it's more than what I wish to be remembered by. It's not about me, it is about what I can do to contribute to our society and I think, what I am working towards is really three things as we said like the first is really transformation of India into a digital society and that digital society incorporates all the future industries, so that the next 30 years of India is a 100 times, like what we have never imagined is what we can achieve. That's the first piece that at least in my humble way of working to."
"The second coincidently combines with the magic that our Finance Minister talked about and I think that linkages in education and its time to transform our education sector at any point in time we have 200 million children in India in the education system and it will take us 8 to 10 years to completely transform the skill base of India and I think that you know what we have been what our Finance Minister very aptly describe what is magic," he added.
Ambani asserted, he thinks that we have the formula to convert the magic into reality and establish linkages between academic institutions to real world, skill training and employment in a way that actually sustains India of much higher quality and better jobs.
The third thing that we are working towards is really transformation of energy, he added.
"And we think again that the world is right and India is in the right mindset to completely, in the next few decades, move away from fossil fuels to completely renewable energy. Be Atmanirbhar and really try and see if we can make our modest contribution in terms of development of India and in energy also development of the world in terms of this transition," said Ambani.
"The way I think about it is that what really controls life is, we are already in information. Both with our IT industry has done and what we have done in communications. We are leaders in the world in information. We have to now covert that to intelligence. We have to have the best human resources and we have to have our own energy and be Atmanirbhar. If I can play my small part in actually achieving this and create institutions that will perpetuate and sustain that than I would have done my Job. I don't know whether I will succeed or not," he added. (ANI)