In the ‘Infrastructure – the Catalyst for India’s Future’ event of Crisil, the chairman of Adani Group, Gautam Adani, made remarks about the 1991 reforms and the current governance of India. He further shared his plans to invest $100 billion in the energy transition in the coming decade.
Mr Adani mentioned at the conference, “The next decade will see us invest more than $ 100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation.” He further shared the details about the company’s ongoing projects. In his own words, “we are already building the world’s largest single-site renewable energy park in Khavda, in the district of Kutch (in Gujarat). Just this single location will generate 30 GW of power, thereby taking our total renewable energy capacity to 50 GW by 2030.”
Gautam Adani’s Statements On Political Reforms and Governance
At the same conference, he praised the 1991 LPG reforms (liberalisation, privatisation, and globalisation reforms) brought in by then-prime minister P V Narasimha Rao and the finance minister at that time, Dr Manmohan Singh. He stated that these reforms led to the foundation of the country’s economic growth.
He said, “The reforms announced by the late Prime Minister P V Narasimha Rao and the finance minister at that time, Dr Manmohan Singh… marked a watershed moment in India’s economic history.” He further mentioned that during PM Modi’s governance, India’s economic growth rate took off. “If the period between 1991 and 2014 was about laying the foundations and building the runway, the period from 2014 to 2024 has been about the aircraft taking off”, Gautam Adani said.
His Anticipation On India’s Growth
61-year-old billionaire Gautam Adani forecasted the growth of the Indian economy. He stated, “Given the pace at which India is growing and the way the government has been executing social and economic reforms, I anticipate that within the next decade, India will start adding a trillion dollars to its gross domestic product every 12-18 months. This will put us well on track to be a $30 trillion economy by 2050.”
