When Dhirubhai told Mukesh Ambani 'figure out what you want to do'

Failures are normal. They are just steps before you succeed, said Mukesh Ambani at the 25th NASSCOM India Leadership Forum on Wednesday.

The Reliance Industries Chairman also shared his father, Dhirubhai Ambani's advice to him. "When I came from Stanford university. I asked what is going to be my job? What would I do? To that my father said, 'if you are in a job, you are a manager. If you are an entrepreneur, you will figure it out', he recollected.

"So I won't tell you anything. Figure out what you want to do," Dhirubhai Ambani told his son.

Speaking to the entrepreneurs at the event, Ambani said, "You have to solve a problem that actually does good in some way. That has to be the main objective of the business. If you only focus on financials returns, chances are that you would not become great".

Sharing his views on the new US president, he said Donald Trump could be a blessing in disguise for the Indian IT sector. "I think Trump can be blessing in disguise. It will allow Indian talent and the Indian IT industry to focus on solving India's problems. The domestic market is huge and this provides an opportunity to improve people's quality of life and to make sure industries are more productive", he said.

Discussing on the subject 'Dial D for disruption: Is data the new oil?', the RIL Chairman said, "Data is the new natural resource and fundamentally you have to have a lot of people to generate data. In that sense, India is naturally blessed with its 1.2 billion people".

"We are at the beginning of an era where data is the new oil and India with its talent and young population will have a competitive advantage," he added.

Listing out RelianceJio's achievements, he said, "As the world digitises and we see opportunities to solve big problems. The domestic market is huge and within that what the Jio platform offers is partnership with the next generation to solve problems for India, improve the quality of life, and to make sure industries are more productive".

He acknowledged the technology's affect in doing business. Ambani explained how Aadhaar and e-KYC helped Jio reach one million users per day.

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"Remember, at the end, tech has to adjust to human beings and not the other way round. The big lesson for all of us to understand is that there is common sense and tech has to adjust to human beings. At the end, it has to serve society", he said.

He also made a push for implementation of next generation technology, ""India has to be the capital of the real implementation of blockchain, to build the trust economy. In terms of the internet, we have the opportunity to adopt artificial intelligence and natural language processing", he said.