"If I think about re-imagined India, to my mind education, livelihood - the ability to earn today- and health are the three most important things before the country," he said.
The Reliance Industries Chairman was speaking at a discussion on 'Re-imagining India: Unlocking the Potential of Asia's Next Superpower'.
Embracing technology in a big way will help India to transform itself into a new India in a very short span of time, he maintained.
Stressing on importance of education, the billionaire- industrialist said it enables people to embrace tools of technology.
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"Today we have a current account deficit. Bulk of it is because of import of energy (oil & gas). For a country like India, there is no other option but to rely on technology, even to solve our energy problems.
The Asia's third largest economy has an efficient education system but there was a need to make it more effective, he said.
Speaking on the occasion, Mahindra Group Chairman Anand Mahindra said India has a chance to create a completely new template.
He said smaller states are better to manage. "I have no problem about more states coming up. If size is the issue, make it (states) more manageable," Mahindra said.