NEW DELHI: Gautam Adani, the chairman and founder of Adani Enterprises and the fourth richest person in the world, spoke to shareholders during the conglomerate’s annual general meeting (AGM) and outlined the conglomerate’s plans.
Adani praised the Indian government for its concentrated efforts in the field of renewable energy, noting that the country has experienced a 125 percent rise in capital investment.
The Adani Group’s recent fiscal year (FY22) was a “break-out” year, and the chairman said that the expansion drive will continue.
“Our government must be given credit for the way it has played its role and managed the all-round balancing act. Given the indications we see from our businesses, I feel confident that India’s projected GDP growth number of 8 percent over this current year is very achievable,” Adani said.
The chairman of the Adani Group also emphasized some of the organization’s most significant accomplishments in FY22, highlighting the fact that the conglomerate’s total market capitalization crossed $200 billion during the year.
“Our combined Group market capitalization this year exceeded USD$ 200 billion. We were able to raise billions of dollars from the international markets – a direct validation of confidence in the India and Adani growth story. Our growth and success have been recognized around the world,” Adani said while addressing the AGM.
Additionally, Adani said that the Adani Group is in the lead in the race to transform India from a nation that is overly dependent on oil and gas imports into one that one day may become a net exporter of renewable energy.
“We now hold a major global renewable energies portfolio; we have also made remarkable progress in several other industries over the past 12 months. In one stroke, we have become the largest airport operator in India,” he further added.
According to the chairman, the Adani Group’s rapid development into related industries over the past 20 years has made it one of India’s largest integrated infrastructure companies.