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Mukesh Ambani urges PM Modi to follow in steps of Mahatma Gandhi against global corporations; here’s why

FE Online

Reliance Industries Chairman Mukesh Ambani on Friday urged Prime Minister Narendra Modi to lead a movement against data colonisation on the same lines as Mahatma Gandhi piloted a struggle against political colonisation. The local data must be owned by Indians and not by corporates, specially global corporations, the billionaire businessman said at the Vibrant Gujarat Global Summit.

“Honorable Prime Minister, am sure you will make this one of the principal goals of your digital India mission , he also said while adding that the world has now recognised that PM Modi is a man of action.

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“For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India in other words, Indian wealth back to every Indian. , he added.

Meanwhile, on Thursday, RIL became the first Indian company to post Rs 10,000 crore quarterly revenue. The company reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year.

The company s revenue also increased by 55.9% to Rs 171,336 crore as against Rs 102,500 crore in the corresponding period of the previous year.

Reliance Jio also recorded a profit for the fourth straight quarter as Mukesh Ambani-backed telco posted a jump of 65% in its net profit to Rs 831 crore during the quarter ended December as against Rs 681 crore in the corresponding period a year ago.