Post COVID-19, India will emerge stronger and conquer the crisis sooner rather than later, says Reliance Industries Limited chairman Mukesh Ambani. He said that India’s economic rebound will surprise the world.
“It will be a Better India, a Resurgent India, a more Equal India, and a far more Self-Confident India,” Ambani said during his address to the shareholders on the 44th Annual General Meeting. “I foresee that the Indian economy will bounce back at a rate that will surprise the world. Prosperity and opportunities will be created for all on a scale never seen before. Not for a few, but for all 1.35 billion Indians.”
Ambani believes India is destined to emerge as one of the top three economies in the world. “And as your company in its Golden Decade transforms itself as New Reliance, it is destined to play a proud role in emergence of a New India.” Reliance invested $90 billion in creating substantial wealth for nation and value for shareholders. “In the coming decade, Reliance has capacity to catalyst investments of over $200 billion directly and through partners,” he said.
The RIL chairman said as one of the biggest energy markets in the world, India will play a leading role in transforming the global energy landscape. “As a company always focused on growing businesses of the future, Reliance will provide leadership on the combined strength of our balance-sheet, talent, technology and proven project execution capabilities. Reliance will make its new energy business a truly global business.”
In regards to India’s struggle for medical oxygen at the peak of the second wave of COVID-19, Nita Ambani highlighted that Reliance Foundation launched five missions to fight COVID-19 – Mission Oxygen, Mission COVID Infra, Mission Anna Seva, Mission Employee Care and Mission Vaccine Suraksha.
“India faced an acute shortage of oxygen as soon as COVID cases began to surge earlier this year. Reliance swung into action on a war footing immediately. Traditionally, we have never produced medical grade liquid oxygen,” she said. “Yet when the need arose, we repurposed our Jamnagar refinery within days, to produce high-purity medical grade liquid oxygen and within two weeks, we ramped up production to a massive 1100 metric tonnes per day.”