News Reliance Industries

Expressing his views at the recently held World Economic Forum’s (WEF) India Summit (organized by the World Economic Forum and Confederation of Indian Industry (CII) in Mumbai) Mukesh Ambani, chairman of India’s largest private sector company Reliance Industries Limited (RIL), stated that the UPA government needs to push policy reforms in critical areas of functioning and incorporate quick decision-making skills to sail through the current turmoil economic  . 

Mukesh Ambani’s views were further supported by leading industrialists and businesspersons of the country who vociferously called upon the government to initiate faster growth programs that, congruently, take account of equitable growth and social justice in mind.

At present, India is facing the brutal brunt of a highly volatile economy. Rising inflation and the unhurried approach of the government to control it have driven investors - domestic and foreign - and entrepreneurs away from the once-admirable prospect of flourishing India. While the government stands to face a eye of rebuke, industrialists and business leaders including Mukesh Ambani are optimistic that things can turn around, given the government tightens its loose ends. Ambani said, “We need to get a minimum agreement saying at the end of the day we are working for all the people and we have to have a pathway to move towards 21st century governance.” His views underlined the need to have in place a government that acts more as a facilitator rather than as the mover of economic growth.

Reliance chairman also opined that at present, India is need of dynamic governance, composed of young leaders as “leadership reflects our demographics”. He emphasized that in spite of the grim situation the world is facing, India is at a stage where it is ready to take-off on the back of a young population and high-level of entrepreneurship.

While the government lay in acceptance of the facts of its unruly conduct, it underscored the need to include with the suggested policy reforms elements of sustainable and ecological growth.