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“Data is the new oil”, Jio founder Mukesh Ambani’s veiled attack on Facebook, Google

Speaking at Vibrant Gujarat Summit on Friday, Reliance Industries Chairman and Managing Director Mukesh Ambani raised his concerns on data colonisations by the global companies.

Ambani said, “Gandhi ji led India’s movement against political colonisation, today we have to collectively launch a new movement against data colonisation.”

“In this data driven revolution we have to migrate the control and ownership of the Indian data back, Indian wealth back to every Indian,” said the Reliance founder.

Arguing that “data is the new oil”, Ambani said that it must not be owned by corporates, especially global corporations. He asked Prime Minister Narendra Modi to take measures against such colonising of data.

On Tuesday, Mukesh Ambani had featured in Foreign Policy magazine’s 2019 annual list of the top ‘100 Global Thinkers’. According to the magazine, Ambani, who displaced Jack Ma in 2018 as Asia’s richest man is credited with accelerating a smartphone internet revolution in the world’s largest democracy.

“With a fortune of $44.3 billion, Mukesh Ambani displaced Jack Ma in 2018 as Asia’s richest man. Ambani’s fortune comes from his holdings in the oil, gas, and retail sectors, but he’s likely to make his biggest impact on India through his new telecom venture Jio,” the magazine said on its website.

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