Mumbai: Start-up entrepreneurs must be ready to work with limited resources but with unlimited determination, said Shri Mukesh Dhirubhai Ambani, CMD of Reliance Industries Ltd (RIL), on Thursday in his keynote address, at the virtual 22nd Entrepreneur of the Year™ – India (EOY) 2020 Awards ceremony.

Shri Ambani asked young entrepreneurs not to be deterred by failure, because only after many failures there is success. He said,  the key driving force of India’s rise will be country’s entrepreneurs. He said, Indian entrepreneurs have dual opportunities, first, to serve the domestic markets and then the global markets.

Shri Ambani  said, our Prime Minister, Shri Narendra Modi, has been advocating a greater role for the private sector in India’s future development and all of us should welcome this.

Full text of speech

Friends

Ladies and gentlemen,

A very good evening to each and every one of you!

My hearty congratulations to the entrepreneurs who have won the EY Awards this year.

As I look at the India of today and tomorrow, I see a tsunami of opportunities for entrepreneurs.

There are two reasons for my confidence.

Firstly, our Prime Minister, Shri Narendra Modi, has been advocating a greater role for the private sector in India’s future development.

All of us should welcome this.

Secondly, 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.

We have the potential in the coming decades to be among top three economies of the world.

New sectors like Clean Energy, Education, Healthcare, Lifesciences & Biotechnology and transformation of existing agricultural, industrial, and service sectors offer unprecedented opportunities.

Moreover, Indian entrepreneurs are now capable of providing world beating quality to meet the needs of our market at the most competitive cost. This opens-up the entire global market for Indian entrepreneurs.

Hence, Indian entrepreneurs have dual opportunities, first, to serve the domestic markets and then the global markets.

Today, our country is going to be the epicentre of global growth and transformation.

India’s Rise has already begun.

India is surging ahead …

…As an Economic Power.

…As a Democratic Power.

…As a Diplomatic and Strategic Power.

…As a Cultural Power.

And also, as a Digital and Technology Power.

And the key driving force of INDIA’S RISE will be our entrepreneurs,

…who are striving to scale and globalize their businesses;

…who are inventing new things every day that can transform India and the world;

…who are disruptive and hungry for success.

My Dear Entrepreneurs,

Many of you have started new businesses.

Therefore, I would like to share one personal learning with you.

Start-up entrepreneurs must be ready to work with limited resources but with unlimited determination.

My young friends, my message is not to be deterred by failure, because only after many failures there is success. I am sure as an entrepreneur you will have the courage and the determination to succeed. Therefore, I am absolutely confident that you are going to script far bigger success stories for India then the entrepreneurs of my generation.

All the best to you as you pursue your dreams.

May God bless you!

Stay safe. Stay healthy. Thank you.