US energy initiatives will aid global recovery: Mukesh Ambani
11 Feb 2013
Reliance Industries Ltd (RIL) chairman Mukesh Ambani is bullish on both India and the US, saying that the US will lead global economic recovery due to a fundamental transformation of the energy scene.
And he is ''more optimistic than most'' about India because the aspirations of a billion people cannot be long ignored.
In an interview to CNN at his specially-built 27-storey home in one of the priciest areas of Mumbai, Asia's second-richest man said he was ''very bullish" on India despite a slowdown of its GDP growth - now projected at 5 per cent for the fiscal year ending March - and foreign investors' complaints about poor infrastructure and lack of reform.(See: Bullish on US recovery this year: Mukesh Ambani)
"India has had some slow growth, but I'm really very optimistic on India," he said. "I'm very bullish on India, because it's really the aspirations of a billion people. And ours is a country where all the billion count.
"We are on a long-term growth trajectory. And this is just not growth in terms of GDP numbers, right? This really is for the well-being of each and every Indian. And that's the aspiration," Ambani said.
On the global scenario, he said, "My view is that this year we will see the beginning of a recovery, particularly in the US" because "there has been a fundamental transformation in the energy scene in the US".
