Know What Gautam Adani Says About Investment at the Annual Shareholder Meeting of the Group Companies

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Gautam AdaniThe wealthiest Indian, Gautam Adani, claimed on Tuesday that his ports-to-energy conglomerate never stopped investing in India since the success of the firm is built on its alignment with the country’s growth narrative.

He said the previously stated USD 70 billion investment in the new energy business will help shift India from being a net importer of oil and gas to an exporter of clean energy while speaking at the annual shareholder meeting of the group firms.

He claimed, “Never have we stopped investing in India, never have we delayed our investments. We think we are very firmly positioned to continue to do effectively in a range of market scenarios given our size, our diversified company, and our track record of performance. According to him, the Adani Group’s alignment with the India growth narrative is the foundation of its success.

The Adani group began as a commodity trader in 1988 and has since expanded into other industries like as sea ports, coal production, energy distribution, airports, data centres, and more recently, cement and copper. To build a private network, it is currently putting in a bid to buy 5G telecom spectrum.

The group’s chairman, Adani, stated that the group’s investment of USD 70 billion in assisting India’s green transformation is “the best evidence” of its confidence and belief in the future.

One of the major solar power companies in the world, Adani Green Energy Ltd. (AGEL), plans to invest USD 20 billion to build a 2 GW/year solar manufacturing capacity by 2022–2033. The company has set a target of 45 GW of renewable energy capacity by 2030.

The remaining funds will be used by the consortium to build factories that will manufacture green hydrogen.

The effort to make green hydrogen the fuel of the future will benefit greatly from our strength in renewables, he claimed. “We are in the forefront of the fight to make India less dependent on foreign oil and gas imports and more likely to become a net exporter of clean energy in the future. a change that will significantly alter India’s energy footprint.” Adani claimed that the company is expanding as “builders of India’s infrastructure,” gaining significant road contracts, and increasing its operations in industries like ports, logistics, electricity transmission, and municipal gas utilities.

In addition to operating the majority of the country’s airports, it has now overtaken Holcim as the second-largest cement company in the nation after purchasing its Indian businesses (ACC and Ambuja Cement).

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