Gautam Adani, Chairman of the Adani Group, has said that India will be the third largest economy in the world "well before" 2030 and the second largest by 2050. Speaking at the World Congress of Accountants 2022, India's Path to an Economic Superpower, in Mumbai on Saturday, Adani said the next three decades are crucial and they would propel India to the forefront of entrepreneurship.
"We have gathered at a time of uncertainties. The intersection of the Covid pandemic, the war between Russia and Ukraine, the challenge of climate change, and the unprecedented acceleration in inflation has created a crisis for global leadership," Adani noted.
The ports-to-energy conglomerate’s founder and chairman added that India will start adding $1 trillion to its gross domestic product every year or 18 months from the next decade, he added, which will help the economy grow.
“In 2021, the pace of unicorns in India has been the fastest in the world. India executed real-time transactions globally in 2021. It was six times bigger than the US, France, Canada, and Germany combined. All of these have laid a base for the fourth industrial revolution where humans and machines are interconnected. "I expect the number of startups will lead to VC funding in India. India has already seen an acceleration in VC funding to $50 billion in just eight years," he added.
In his speech, Adani said that he has full confidence in India's growing economy and lauded Prime Minister Narendra Modi-led government’s initiatives in this regard.
Adani said, "It is after more than two decades... that we have a government of the majority of its own. This has given our country the ability to initiate several structural reforms".
He added that "In 1947, there was an opinion that Indian democracy would not survive. Not only we survived, but now India is regarded as a role model for a peaceful transfer of power from government to the next".
Talking about renewable energy, Adani said that the combination of solar and green power, coupled with green hydrogen would open up "great" opportunities for India in the future. "By 2050, there is potential for India to become a net exporter of Green Energy," he said.
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