We can create India-first model of development, don’t need to copy foreign model: Mukesh Ambani

At the 48th Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani called on the nation to build an “India-first model of development,” urging the country to rely on its own strengths instead of copying foreign models.

“Despite geopolitical uncertainty, one truth is crystal clear. India is on the rise, and India’s rise is unstoppable,” Ambani said. “Today, India already ranks among the world’s top four global economies. Under the determined leadership of our visionary Prime Minister, Shri Narendrabhai Modiji, India’s GDP is growing faster than all major economies. With the right set of reforms, advanced manufacturing capabilities, and a national priority on Deep Tech, our economy can grow at 10% annually.”

He noted that such growth could raise India’s per capita income “4-5 times within the next two decades,” making the country “not just a prosperous nation but also a more equal nation.”

Ambani outlined his vision for an India-first development path: “This model will use Deep Tech to bring prosperity and security to India, improve the quality of life of each and every Indian, and protect the environment. This model will also harmonise technology with democracy, economy with culture, spirituality with science, and national aspirations with friendship across all nations. This, my dear shareholders, is the Indian Dream.”

On Reliance’s outlook, Ambani said the company’s O2C business will deliver “substantial growth and stable returns” as geopolitical tensions ease, while innovation-led growth in materials will help it produce “high-value green fuels and chemicals which India and the world will need.”

Highlighting lessons from recent global events, he said: “There is no substitute for economic strength. India must gain greater economic strength ─ and do so with a sense of urgency.”

Referring to Prime Minister Narendra Modi’s Independence Day address, Ambani added: “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 concluded with a call for collective effort: “All Indian businesses must work together with unity as a grand coalition – in the spirit of cooperation, mutual learning, and mutual support. There is strength in unity and collective endeavour. And this is what the nation today expects from its business community.”