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The RIL chairman said ‘the most important lesson this journey has taught us is that there is no substitute for economic strength’
Mukesh Ambani speaks at RIL AGM.
Reliance Industries Chairman Mukesh Ambani on Friday quoted Prime Minister Narendra Modi to call for ‘aatma nirbharta’ [self-reliance], noting the immediate need for India to become self-reliant “to the maximum extent”.
Addressing shareholders at the 48th Annual General Meeting, Ambani said: “Our Prime Minister, Shri Narendra Modi ji, rightly exhorted us in his Independence Day speech that the yardstick of aatma samman [self-respect] is atma nirbharata [self-reliance]. India must become self-reliant to the maximum extent in key technologies, critical industries, and other vital sectors of the global economy.”
He added: “The most important lesson this journey has taught us is that there is no substitute for economic strength. This lesson is reinforced by recent geopolitical developments.”
Ambani’s comments come at a time when the United States has levied a 50 per cent tariff on India—among the highest in the world—including a 25 per cent penalty for the country’s transactions with Russia.
India, however, has shown no signs of going back on its purchases and has called the tariffs “unfair”, emphasising that it will choose the “best deal” on buying oil to protect its 1.4 billion people.
Touching upon the geo-political dynamics, Ambani said: “I have witnessed India’s incredible journey in these five decades—from a “Third World” country to one now on the threshold of becoming a First World Power. The most important lesson this journey has taught us is that there is no substitute for economic strength. India must gain greater economic strength ─ and do so with a sense of urgency.”
The RIL chairman also called upon all businesses to work together to overcome the challenge. “The magnitude of the challenge is so large that all Indian businesses must work together with unity as a grand coalition—in the spirit of cooperation, mutual learning, and mutual support. I had made this suggestion in last year’s AGM, and I repeat it today. There is strength in unity and collective endeavour. And this is what the nation today expects from its business community.”
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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
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