Republic Summit 2018 | 'Digital is the greatest friend of democracy': Mukesh Ambani speaks on Opportunities for a Billion People

Mukesh Ambani, Chairman & Managing Director of Reliance Industries Limited, delivered a keynote speech on the theme of 'Opportunities for a Billion People' on the Day 2 of the inaugural Republic Summit. In his address, Mr Ambani underscored the developments in the media space, contrasting digital media with traditional mass media.

"Digital technologies have empowered the public in ways that have no precedence in human history. Before the advent of digital technologies, the so-called mass media was essentially without the masses. The masses were passive consumers of media. Now the masses have become both producers and owners of media. Look at social media, it's very name connotes that it be society as a whole."

Mr Ambani later went onto share why he believes that 'digital is the greatest friend of democracy':

"I believe that digital is the greatest friend of democracy. Let me explain why - the old media model was from few to many and now the new media model is many to many and from anywhere to everywhere. In other words, media in the digital age - is of the people, for the people and by the people, in the true sense of the term. This trend will continue and become more mature in the future. When digital and democracy will work together, their combined power will produce a prosperous power - Dhanvan Bharat."

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Later in his speech, the RIL Chairman stated that he had witnessed three industrial revolutions:

• First was power by Coal and steam
• The second was fueled by electricity and oil
• Third used electronics and information technology

"During the first two revolutions, India languished on the fringes. It started playing catch-up in the computer-driven third industrial revolution. The fourth Industrial revolution is now upon us. It is marked by a fusion of technologies, joining the physical, the digital and biological world."

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He proceeded to detail reasons why he believed India would lead the fourth Industrial revolutions, as well as the things India now needs to do in order to do so, concluding:

"I can predict that from now on, every new generation of Indians will live a better and more fulfilling life than those before. India must embrace it. As a nation we must rise to this. The goal can't be achieved by any one person or one enterprise or by any one Indian. All 1.3 billion Indians will have to work together, to realise this in the shortest possible time. Let's work together to make surging India a reality."

Watch Mukesh Ambani's full keynote address here.