The richest man in India, Gautam Adani, made a persuasive argument for India on Tuesday, predicting that it will grow from a $3 trillion economy to a $30 trillion economy over the course of the next 25 years.
Additionally, he revealed that over the following ten years, the Adani Group will invest more than $100 billion in India. India has just become the world’s fifth largest economy and is on the path to be the world’s third largest economy by 2030.
The fact is India’s real growth is just starting – as it goes from its 75th year of freedom this year – towards its 100th year of independence, the Adani Group chairman said at the 20th Forbes Global CEO Conference in Singapore.
The global unrest is disturbing the world, but Adani thinks it has given India more chances. According to the industrialist, it has helped India become one of the few comparatively bright places from a political, geostrategic, and market perspective.
The billionaire businessman outlined his vision for India over the next 25 years, claiming that it will be completely literate and rid of poverty long before 2050.
“We will be a country with a median age of just 38 years even in 2050 – and a country with the largest consuming middle class the world will ever see. We will also be the country that attracts the highest levels of foreign direct investment given the sheer scale of consumption of 1.6 billion people,” Adani said.
“In 2021, India added a unicorn every 9 days, and it executed the largest number of real-time financial transactions globally – a staggering 48 billion. This was 3 times greater than China and 6 times greater than the U.S., Canada, France, and Germany combined,” he added.
The chairman declared that the Group will invest more than $100 billion in capital over the following ten years. “We have earmarked 70 per cent of this investment for the Energy Transition space. It is our commitment to invest 70 billion dollars in an integrated green hydrogen-based value chain,” he said.
“In addition to our existing 20 GW renewables portfolio, the new business will be augmented by another 45 GW of hybrid renewable power generation spread over 100,000 hectares of land – an area 1.4 times that of Singapore,” he added.
The goals of Adani’s conglomerate in the area of digital transformation, which aims to profit from the proximity of the energy transition, were also outlined. Since this industry consumes more energy than any other in the world, his decision to develop green data centres is a differentiator that will change the game.
“India is full of incredible opportunities. The real India growth story is just starting. India’s next three decades will be the most defining years for the impact it will have on the world,” Adani concluded.