'I came to Mumbai with just a baksa and a dream to make it': Vedanta's Anil Agarwal

Of all the countries and cities that Anil Agarwal has been to, nothing comes remotely close to Mumbai. “I love aamchi Mumbai. There something special about it,” he says.

Like most people, he came here looking to make a living. That was in the mid-1970s and Agarwal, a youngster from Patna, recalls that phase. “Bas, ek baksa tha aur ek sapna (I had a box and a dream),” he says.

In his spacious home in south Mumbai’s Colaba, two landmarks are in close proximity – the Gateway of India and the Taj Mahal Hotel. After months of hard work, his company, Vedanta Ltd, has completed a successful restructuring leading to the creation of five distinct entities – Vedanta Aluminium, Vedanta Iron & Steel, Vedanta Oil & Gas, Vedanta Power and, of course, Vedanta Ltd. “Each of them can become a $100-billion revenue company,” he says.

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Though Agarwal is based in London, every part of him remains Indian, be it the simple Hindi or the earthy humour. Dressed in a suit and slip-ons, he gently moves around in the large sofa. The conversation slips in and out of business.

With a slight smile, he picks out key events from the past, links them to the present, and attempts to paint the future. “Obviously, there were a lot of failures along the way, but it only made me stronger like Dara Singh! A lot of it is because of my courage and the support I got from many people,” he says.

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Ask him what the vision for Vedanta is and the answer is simple. “The story has just started. In aluminium, we will make alloys and reduce costs by at least 20%. In mining, we will use technology and sit in the control room. In each business, costs will reduce and production will increase,” he says. Nothing excites him more than natural resources and today, the size and scale of the opportunity are compelling. “This a period of great transformation at Vedanta. Listing the companies throws open multiple options to raise money. To me, this is a new Vedanta,” sums up Agarwal.