Mumbai | Mukesh Ambani, the wealthiest individual in the nation and chairman of Reliance Industries Ltd, has highlighted that India, currently the world's third-largest energy consumer, is poised to witness a twofold increase in its energy requirements by the close of this decade. Speaking at the Pandit Deendayal Energy University (PDEU) convocation, Ambani expressed confidence in an unprecedented surge in economic growth, projecting that the Indian economy would burgeon from its current USD 3.5 trillion to USD 40 trillion by 2047.
Ambani, steering Reliance Industries Ltd towards a cleaner energy trajectory, underscored the imperative for copious amounts of energy, specifically advocating for clean and green sources that don't compromise environmental integrity in the pursuit of human progress. He stated unequivocally, "India's energy demand is set to double by the end of this decade."
In a strategic move, Ambani's conglomerate is transitioning away from fossil fuel dominance, channeling billions of dollars into the establishment of giga factories dedicated to new energy ecosystems, renewable energy generation, and green hydrogen production.
Addressing the graduating class, Ambani painted a vision for India's next 25 years, marking it as a pivotal period for unprecedented economic growth and an opportunity to materialize a vision of a clean, green, and sustainable future. He posed three critical questions, encapsulating them as the "Energy Trilemma" that India must confront in its pursuit of robust energy infrastructure:
How can the nation ensure universal access to affordable energy for every citizen and economic activity?
How can it swiftly transition from fossil fuel-based energy to clean and green alternatives?
How can it safeguard its burgeoning economy from the risks of a volatile external environment?
Ambani declared that the energy transition has become paramount for India's ascent as a global leader in green, sustainable, and inclusive development. Expressing faith in India's ability to navigate this trilemma, he credited the nation's exceptionally talented youth, asserting their commitment to combating the climate crisis and designing groundbreaking energy solutions.
"They will pioneer innovative energy solutions, contributing not only to a resilient and self-reliant India but also to a safer and healthier planet," Ambani concluded.