NEW DELHI: The Asian region is expected to contribute roughly 60% of global growth by 2030, Reliance Industry Limited Chairman and Managing director Mukesh Ambani said on Wednesday.
In a chat with Dr Raghunath Anant Mashelkar at the Asia Economic Dialogue, Ambani highlighted that the centre of gravity of the global economy has clearly shifted to Asia.
"From the 1st to the 18th century, Asia was leading the world in global GDP. After suffering a retreat in the last two centuries, Asia is now making a strong comeback. In 2020, Asia’s GDP as we all know overtook the GDP of the rest of the world combined," said Ambani.
He stressed that India is likely to overtake Japan as Asia’s second-largest economy, and the world’s third largest economy, by 2030.
On green energy, he said the excessive use of fossil fuels in the past two hundred years has gravely endangered the fragile ecology of the planet. Therefore, the transition from old energy to new, green and clean energy is not an option; it is an urgent imperative. Being self-sufficient in green and clean energy will help India emerge as a global power.
"If the last 20 years, we were known for India's emergence as an IT superpower; next 20 years, I believe, along with technology, will mark our emergence as a superpower in ENERGY and LIFE SCIENCES," RIL's chairman said.
He was optimistic that India's aims to achieve 500 GW of renewable power capacity will be met.
Talking about the carbon emissions, he said an average Indian's annual carbon emissions is about one-fifth that of an average Chinese or one-eighth of an average American. So, even if it increases, India will be able to handle it.
"India will overtake the European Union as the world's third-largest economy. In my view, by sometime around 2030-2032," he ended.