Prime Minister Narendra Modi's thrust on the private sector presents a "tsunami of opportunities" for the country's entrepreneurs, richest Indian Mukesh Ambani said on Thursday.
Ambani, the chairman and managing director of Reliance Industries, also said India is surging ahead as an economic, democratic, diplomatic, strategic and cultural power.
"As I look at the India of today and tomorrow, I see a tsunami of opportunities for entrepreneurs. There are two reasons for my confidence.
"Firstly, our PM Narendra Modi has been advocating a greater role for the private sector in India's future development," Ambani said at the EY Entrepreneur of the Year awards.
Last month, Modi had pitched for greater importance of the private sector, stating that the culture of abusing the private sector is no longer acceptable.
Ambani said the second reason for the 'tsunami of opportunities' is the availability of technologies which can be utilised for helping 1.3 billion Indians meet their aspirations.
"We have the potential in the coming decades to be among the top three economies of the world. New sectors like clean energy, education, healthcare, life sciences and biotechnology, and transformation of existing agricultural, industrial and service sectors offer unprecedented opportunities,” Ambani said.
Indian entrepreneurs are now capable of providing world-beating quality to meet the needs of our market at the most competitive costs, he said, adding this opens up the entire global market for Indian entrepreneurs.
In a message to young entrepreneurs on the verge of starting new enterprises, Ambani said they should not be deterred by failures and made it clear that success awaits them after the setbacks.
"You will script far better success stories for India than my generation," he added.
Speaking at the event, Infosys co-founder N R Narayana Murthy said corporate leaders have to assemble a group of thinkers from the society to recognize and understand the complete list of risks which a business faces, and added that he is “humbled” by the pandemic.
Kotak Mahindra Bank's Uday Kotak said business has to go beyond quarter-to-quarter and convince investors that the company is building something which will be a bigger success in the future.