Adani says his group’s success depends on India growth story

TIL Desk/Business/New Delhi/ Billionaire businessman Gautam Adani on Tuesday said his ports-to-energy conglomerate never slowed or stopped investing in the country as the group’s success is based on its alignment with the India growth story.

Speaking at the annual shareholder meeting of the group companies, he said the previously announced $70 billion investment in new energy business will help turn India from being a net importer of oil and gas to an exporter of clean energy.

“Never have we walked away from investing in India, never have we slowed our investments,” he said. “We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions.”

The success of the Adani Group, he said, is based on its alignment with the India growth story. Starting off as a commodity trader in 1988, the Adani group has over the years diversified into sea ports, producing coal, energy distribution, airports, data centres and more recently into cement and copper. It is now bidding to acquire 5G telecom spectrum to set up a private network.