Mumbai: Billionaire Mukesh Ambani predicted that India will become $40 trillion economy by 2047 on the centenary year of the country.

Speaking at Reliance Family Day Function 2022, Ambani said that "We can become a $40 trillion economy by 2047, Centenary of our Independence, in sustainable & stable manner."

"From an era of shortages, scarcity & widespread poverty, India will enter an era of inclusive prosperity, abundance of opportunities, & unimaginable improvement in the ease of living and quality of life of 1.4 billion Indians", he added.

According to Ambani, this goal is realistic and achievable because India is blessed with the power of young demography, mature democracy & newly acquired power of technology.

Detailing out his company plans Ambani said he would invest Rs 75,000 crore in its O2C business over the next five years to set up India’s first carbon fibre factory and to add capacity in other areas such as polyester and vinyl.

The group is also looking to accelerate its commitment to invest ₹75,000 crore towards establishing a fully integrated new energy manufacturing ecosystem in Jamnagar.

Reliance Industries, which has operations in petrochemicals, oil and gas, telecom, and retail, is chaired and managed by Mukesh Ambani.

Ambani announced massive investment plans earlier this year totaling 2.75 trillion and laid out a succession plan, putting the conglomerate in a position for its next growth phase to quadruple the group's worth by 2027, or the end of what it called its golden decade.

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