Adani Enterprises AGM 2024: Gautam Adani Says India On Brink Of Greatest Growth Phase

Addressing the 32nd annual general meeting on Monday, Adani Group Chairman Gautam Adani underscored the strong economic prospects of India and the role of the power-to-port conglomerate in it.

Amid rampant uncertainty in a complex world, India has emerged as the force for stability, cooperation and progress, Adani said. "It is India's macroeconomic stability and ambitious growth plans that inspire our confidence."

"India is no longer at the crossroads of destiny — we stand on the brink of our greatest growth phase," he said, emphasising that the nation is set to become the world's third-largest economy by the end of this decade, as well as have the largest middle class in the world.

The Adani Group chief said that the conglomerate is well-positioned to continue the economic and social programmes it has shouldered over the past decade as policy continuity returns to the central government.

India's infrastructure spending is expected to grow at a compounded growth rate of 20−25% till 2032, when the nation is expected to reach the $10-trillion mark, Adani said.

"Given the multiplier effect, the government of India has rightly focused on infrastructure development by raising its funding by 16% to over Rs 11 lakh crore for this financial year. It is worthwhile to note that annual spending has tripled in the last five years," he said.

Large parts of funding and action on the infrastructure spending are at the state level, Adani said. "In our case, with our operations spread across 24 Indian states, we are first-hand witnesses to the critical role state governments play in implementing the initiatives."

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