A "tsunami of opportunities" exists for entrepreneurs in India, Reliance Industries Limited (RIL) Chairman Mukesh Ambani said on March 25, in his keynote address at the EY Entrepreneur of the Year (EOY) India 2020 awards.
"We have the potential in the coming decades to be among top three economies of the world," Ambani said, as he lauded the Indian government for advocating a "greater role" for the private sector.
The adoption of new technologies in various sectors of the economy has also maximised the scope for entrepreneurs, he added.
"As I look at the India of today and tomorrow, I see a tsunami of opportunities for entrepreneurs," Ambani said.
"We now have the revolutionary power of new technologies to transform our economy. A small, medium and big businesses have once in a lifetime opportunity to meet the needs and aspirations of 1.3 billion people for good quality of life," the RIL chief added.
New sectors like clean energy, education, healthcare, life sciences and biotechnology, and transformation of existing agricultural, industrial, and service sectors offer unprecedented opportunities, he further said.
Ambani also claimed that the Indian entrepreneurs are "capable of providing world-beating quality" to meet the needs of the market at the most competitive cost.
"Indian entrepreneurs have dual opportunities, first, to serve the domestic markets and then the global markets," he added.
The country, as a whole, has emerged as the "epicentre of global growth and transformation", the top industrialist noted in his address.
For start-up entrepreneurs, Ambani stressed that they should not be deterred by failure and "must be ready to work with limited resources but with unlimited determination".