Billionaire businessman and Reliance Industries Chairman Mukesh Ambani has received the Global Vision Award instituted by the Asia Society for helping to promote understanding between Asians and Americans.

Speaking at the award function in New York on Tuesday, Ambani said that India has come a long way from being a third world county in the 1980s to become the world’s third most important economy.

“In the 1980s, India was viewed as a third world country and today India is the third most important economy in the world. That has been truly a fantastic journey,” Ambani, who is one of the richest people in the world, said.

India has the foundation for growth, Ambani said, adding, “I think in the 21st century we are going to be fastest growing economy. That is the story of India, which I am very fortunate to be part of”.

General Electric’s chairman and chief executive officer Jeffrey Immelt received the Global Leadership Award.