‘Trust wealth creators’: Anil Agarwal urges India to back entrepreneurs, cites US titans as nation builders

In a fresh pitch for strengthening India’s entrepreneurial ecosystem, Anil Agarwal, Chairman of Vedanta Group, has urged policymakers and society to place greater trust in wealth creators, arguing that dynamic entrepreneurship — backed by philanthropy — can accelerate India’s rise as a global economic power.

In a post on X (formally twitter), Agarwal pointed to the historical role played by American industrialists in shaping the United States’ economic foundations. Referring to a documentary series 'The Men Who Built America' on the History Channel, the Vedanta chief highlighted five business leaders — Cornelius Vanderbilt, Andrew Carnegie, John D Rockefeller, J P Morgan, and Henry Ford — as architects of core industries such as infrastructure, steel, oil, banking, and automobiles.

According to Agarwal, these entrepreneurs not only built industries but also laid the foundations of modern philanthropy by donating a significant share of their wealth to public causes, including universities, libraries, hospitals, and think tanks. He argued that private philanthropy played a decisive role in shaping America’s higher-education ecosystem, which continues to drive innovation and research.

“American capitalism is vibrant and widely accepted because of these incredible entrepreneurs,” Agarwal wrote, adding that their businesses evolved into enduring institutions treated as “national assets, not family silver.”

Drawing parallels with India 

Agarwal said India shares structural similarities with the United States — a vast geography, abundant natural and human resources, and a long tradition of entrepreneurship. He suggested that empowering Indian entrepreneurs through trust-based regulation, faster clearances, and self-certification could unlock investment, job creation, and infrastructure development.

“Who will build that India?” he asked, calling for an environment that allows business leaders to focus on building enterprises rather than navigating complex administrative processes.

The mining billionaire also emphasised the role of women and India’s demographic strength as key drivers of future growth, saying the country has the potential to outperform historical precedents if entrepreneurial energy is fully harnessed.

Policy backing seen as crucial 

Agarwal underlined that collaboration between industry, government, and society would be essential to replicate such an economic transformation. He expressed confidence that a pro-enterprise policy environment — facilitated by the current administration under PM Narendra Modi — could position India to become the world’s leading economy.

His remarks come amid ongoing debates in India over balancing regulatory oversight with ease of doing business, as the country seeks to boost manufacturing, attract global supply chains, and scale domestic champions across sectors.