Mukesh Ambani sees US becoming energy-independent in 5-7 years

Business

oi-Religare

By Religare

| Updated: Monday, February 11, 2013, 15:47 [IST]

Mukesh Ambani, India's richest man and the chairman of Reliance Industries Ltd (RIL) which is also India's most valued firm, said that US will become energy-independent as early as 2018, helped by development of shale oil and gas in the country.

Ambani, whose RIL operates the nation's largest gas reservoir off the eastern coast of India, said "fundamental transformation" in the US energy sector will help drive economic growth this year, as per a media report.

"For many decades, we have heard that the US will be independent of foreign imports of energy," Ambani told a media agency. "Realistically, it is my judgment this will happen in the next five to seven years," he added.

Besides, Ambani is also bullish on India, China and EU. As per the report, Ambani expressed confidence on India's growth story and said that its 100 billion people will ensure prosperity with their aspirations. "I am very bullish on India because it is really the aspiration of a billion people, and ours is a county where all the billion count," he said.