According to Adani Group Chairman Gautam Adani, India is expected to grow its GDP by a trillion dollars every 18 months over the next ten years, putting the nation on course to become a $30 trillion economy by 2050. Speaking to students at Jai Hind College in Mumbai, Adani stated that it took India 58 years following Independence to reach its first trillion dollars in GDP, 12 years for the second trillion, and only 5 years for the third. “I predict that India will start adding a trillion dollars to its GDP every 18 months in the following ten years, which would put us on course to become a $30 trillion country by 2050. Adani stated, “This rate and scope of growth will create amazing opportunities for all of us.”But Adani stated that India will confront a number of difficulties. Adani stated, “We can be optimistic that we will have the economic strength to work through the challenges given the all-around progress we have witnessed over the past decade.”
Adani claimed that during the US-based short seller Hindenburg Research’s report in January of last year, which caused the conglomerate’s shares to lose $150 billion in market valuation, the group’s leadership spirit was more apparent. Following the sale of shares by group firms and promoters to settle debt, the group refuted the charges and saw a rise in share price.
This was not your average financial blowout. It was a dual attack meant to undermine our economic security while entangling us in a political maelstrom. He clarified that it was a planned action that was magnified by some media outlets with vested interests, timed just days before the closing of our follow-on public offer and intended to cause the greatest amount of harm.
“We made a remarkable choice in the midst of this turmoil. We chose to return the funds as a symbol of our dedication to the principles we uphold after successfully financing Rs 20,000 crore through the largest-ever FPO in India,” Adani continued.
The organisation, he added, deliberately lowered its debt-to-Ebitda (earnings before interest, taxes, depreciation, and amortisation) ratio to less than 2.5 times, a figure unmatched even by the strongest infrastructure firms worldwide. The group also raised crores from various sources after that.