Reiterating that data is the 'new oil', Reliance Industries chairman Mukesh Ambani today called for a global set of rules to govern data and digital infrastructure.

Speaking at InFinity Forum, a thought leadership forum on FinTech, Ambani said, "Coming to data, every country has the right to build and protect its own strategic digital infrastructure. However, this revolution is inherently global."

Uniform standards, he said, can ensure that cross-border transactions, collaborations and partnerships are not hampered. "All seven billion of us are in it together, as we have seen in the multiple phases of Covid that we have gone through in the last two years."

As India fully transitions from 2G to 4G, there is potential to create an affordable ecosystem of devices, supported by faster roll out of optic fibre, cloud, and data centre infrastructure. "The next step will be connectivity of machines, devices and vehicles, which is the Internet of Things or IoT," said Ambani, also lending his support to Blockchain. In the last Reliance Industries annual general meeting, he had talked about making India a global hub for 5G development and export.

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