Slowdown temporary, next decade presents historic opportunity: Mukesh Ambani

Mumbai, Feb 28 () The current economic slowdown is "temporary" and caused by external turbulence, and the country has reasons to be more optimistic for the next decade, richest Indian Mukesh Ambani said on Friday.

The chairman and managing director of Reliance Industries said the coming decade presents a "historic opportunity" for businesses to excel and place India among the top three economies of the world.

"I think while we have seen temporary pains, with the leadership that the finance minister provided we're just going to get out of it. External turbulence (has) hit us, but I am very very optimistic," Ambani said.

He was speaking after being presented with the 'Iconic Business Leader of the Decade' award by CNBC-TV18 here.Advertisement

In its four decade existence, Reliance started off with textiles, became a petrochemicals player, shifted focus to refining and energy and has now built a world-class retail and consumer tech business, Ambani said. He further said the transformations have been possible due to the young leaders, and acknowledged the presence of his kids Akash and Isha in the audience. AA ABMABM

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)