India's per capita income will reach $10,000 in 15-20 years: Mukesh Ambani
Feb 23, 2022
Mumbai (Maharashtra) [India], February 23 : India's per capita income is expected to reach USD 10,000 in the next 15 to 20 years from the current around $2,000, Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani said on Wednesday.
"India's per capita income today is around $ 2,000, compared to Europe's $38,000. I believe that with our progress, we will reach $10,000 per capita in the next 15-20 years," Ambani said in a virtual chat at the Asia Economic Dialogue.
He said India will be among the fastest-growing large economies and the country's energy needs are going to double in the next couple of decades. "India will overtake the European Union as the world's third-largest economy. In my view, by sometime around 2030-2032," he said.
In the virtual chat moderated by R A Mashelkar, president, Pune International Centre, Ambani said India's progress is unstoppable.
"We will become a 5-trillion-dollar economy, and we will become 10-trillion-dollar-economy. We can only argue about whether it happens in 2025 or 2027 or whether in 2030 or 2032. So when that happens, the quality of life of every Indian has to improve. Today, our per capita energy consumption is one-third of the world (average)."
Asia's richest man listed three challenges that India needs to address.
One, India must increase energy output to drive double-digit GDP growth. "We have to do it at an affordable basis through the use of technology," he said.
"Second, India must increase the share of green and clean energy in this enhanced output. And third, India must achieve the goal of 'Self-reliance or Atmanirbhar Bharat' in pursuing the above two challenges," he added.
