Billionaire Gautam Adani on Tuesday expressed confidence in India’s growth story, saying that global turbulence has accelerated opportunities for the nation. “It has made India one of the few relatively bright spots from a political, geostrategic, and market perspective,” Gautam Adani said at the 20th Forbes Global CEO Conference 2022 in Singapore. India is on the path to be the world’s third largest economy by 2030, the billionaire said. “The fact is India’s real growth is just starting – as it goes from its 75th year of freedom this year – towards its 100th year of independence,” Adani added.
The billionaire emphasised that the prospects for India look promising relatively as Europe’s conditions have only gotten more difficult. Adani believes that going forward, China will feel more isolated as rising nationalism, shifts in supply chains and technology curbs threaten its economy. His comments on China and the global economy come at a time when the ports-to-power magnate is looking to bolster his international profile as he added $58.5 billion to his net worth so far this year, according to Bloomberg Billionaire Index.
India will become poverty-free, and 100 per cent literate well before 2050. “We will be the country that will go from a 3 trillion-dollar economy to a 30 trillion-dollar economy, a country with a stock market capitalization of 45 trillion dollars, and a country that will be supremely confident of its position in the world,” he said.
Since independence, India took almost 58 years to reach the 1-trillion-dollar GDP mark. It then took 12 years to achieve our 2nd trillion dollars – and thereafter, only 5 years to achieve the 3rd trillion dollars. “This rate will further accelerate as the digital revolution kicks in and transforms every type of activity at a national scale,” he iterated.
‘India on the cusp of creating several thousands of entrepreneurs’
India is now on the cusp of creating several thousands of entrepreneurs. Adani added saying that for every unicorn that rises, the country will see the birth of dozens of micro-unicorns. So far, India’s growth has been driven by domestic investments, however, an economy needs both domestic as well as foreign direct investment. Last year, India recorded FDI inflow of $85 billion, its highest ever. And according to Adani, the inflow is likely to surpass $100 billion this year.