November 14th, 2011
Econintersect: Mukesh_Ambani (pictured) is generally recognized as the richest man in India. At 44 he is also one of the youngest very wealthy men in the world. He has been outspoken on social issues in India and this weekend has been quoted by the Financial Times as believing India should have an increased number of younger leaders. Mr. Ambani has called for his country’s leadership to become more aligned with demographics. India has more than 800 million people under the age of 35 (out of 1.2 billion total). Follow up:
Follow up:From the Financial Times:
Mukesh Ambani, India’s richest man, has called for a generational change in the country’s gerontocratic leadership, and urged the government to move faster to implement reforms that would help meet its young population’s economic ambitions.
“We’ve had a mystery [in India] where we think that [important] jobs can only be done by 60 years old plus [people]…I think we’re now fast moving to say that our 40-year olds can take more responsibility and can perform better,” Mr Ambani, 54, told business leaders and policymakers at the World Economic Forum’s India Economic Summit in Mumbai.
The remarks by Ambani come at a time when there are indications that Sonia Ghandi, leader of the ruling Congress party, who has been ailing, may soon relinquish some of her power to her son Rahul, age 41.
Note: The Financial Times story appeared on Econintersect’s Asia Newspaper page.