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India can't be just seen as a land for making and taking profits out of its geographic boundaries: Gautam Adani

PUNJAB NEWS LINE | November 19, 2022 03:48 PM

NEW DELHI: India cannot be just seen as a land for "making and taking" profits out of its geographic boundaries, Gautam Adani, Chairman of the Adani Group, said.

Speaking at the 21st World Congress of Accountants in Mumbai, Adani said as both, domestic companies and multinationals take advantage of India's market size, we will need stronger mandates wherein corporates are compelled to rise to the challenge of enabling a social structure that recognizes the core of our culture and is aligned with our national needs.

"India cannot be just seen as a land for 'making and taking' profits out of its geographic boundaries. This is why I said at the start, that the superpowers in the multipolar world must recognise that there is no one size of democracy that fits all, and the aftertaste of globalisation is not as flat as was predicted.

"Along with my optimism, I do recognise that a lot still needs to be done as the economy grows. What we cannot afford to do - is fall into the classic two-speed nation trap, where the top half of the society grows prosperous, and the bottom half remains poor. Therefore, our wealth creation must focus on both quantitative factors related to per capita GDP and qualitative factors that include education, skills, and healthcare," he added.

Adani said cooling the planet down will be one of the most profitable businesses and the largest of job creators over the next several decades.

"I am in no doubt that India will lead the global energy transition. This is why, the Adani Group is making a massive investment in drivin, not just India's, but the global energy transition. Over the next decade, we will invest over 70 billion dollars in this space and build the world's most integrated renewable energy value chain. There can be no greater sign of my confidence in the India growth story".

"If there ever were a time to be Indian, be in India, and associate with India, it is now. The foundation to build a new resilient India has already been laid. We will be an India that taps into our own markets to help it become self-reliant. An India with a democratic system that is based on dignity and equality. An India that has the courage to aspire. An India that is a responsible power and strong at its borders," he added.

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