Billionaire industrialist Anil Agarwal plans to leave behind a legacy: an Indian resources group to rival the world\u2019s biggest. The founder and owner of Vedanta Resources Plc wants to keep building the company into a giant producer of the commodities that India needs to curb its reliance on imports, create jobs and reduce poverty. Despite its insatiable appetite for materials, India is yet to impose itself among the mining heavyweights in the way that Australia, China or even the U.K does. "It can be the second- or third-largest resource company in the world," Agarwal, 64, said in an interview in London. Domestic resources have been key to the success of all of the world\u2019s biggest economies and India should be no different, he said. \u201cWe thought India should have a company.\u201d The goal is to invest in more local production of all commodities to feed India\u2019s rapidly growing economy, which currently depends on imports for 80 percent of its oil and minerals. What\u2019s less clear is how Agarwal\u2019s stake in Anglo American Plc fits into that plan. The structure of his purchase last year - he\u2019s now Anglo\u2019s top shareholder but effectively rents the shares - led to speculation that he might take an activist role and seek to merge assets with Vedanta. Management Talks Anglo\u2019s management have consulted Agarwal regularly, he said, and so far his interventions have been limited to advice that the miner shouldn\u2019t abandon South Africa as well as offering to help it expand into India. He said he\u2019s committed to his 21 percent stake in Anglo. \u201cI am long-term, we can always keep extending, I can buy the bonds,\u201d he said. \u201cWe can do anything.\u201d The self-made businessman has enjoyed an audacious ascent from a small-town metal business in northern India to chairman of Vedanta, which he founded in Mumbai in 1976 and listed in London in 2003. Through its local Vedanta Ltd. and Hindustan Zinc Ltd. units, it controls oil fields, zinc mines, iron ore assets and aluminum and copper operations in India. It also has mines in Zambia and South Africa. To keep expanding, Vedanta will invest $8 billion in the next 2 1\/2 years. That\u2019s a bigger share of annual revenue than miners such as Rio Tinto Group and Anglo have pledged to spend over a similar period. \u201cWe take chances," Agarwal said. \u201cWe are like a river, we are going as and where assets are available.\u201d Agarwal\u2019s confidence is largely driven by India\u2019s reliance on imported raw materials. The country\u2019s economy is expected to triple by 2030, and at the moment oil and mineral imports cost the nation about $300 billion a year, he said. By developing local mines, he hopes to curb that import spend and increase the mining industry\u2019s contribution to the economy from 2.5 percent to 10 percent. "In India we have enough resources,\u201d Agarwal said \u201cIndia\u2019s policies are liberalizing and improving the ease of doing business, and we don\u2019t have to go outside of India.\u201d While Agarwal sees Vedanta\u2019s growth and his philanthropy as key to helping reduce India\u2019s poverty, the company\u2019s expansion plans haven\u2019t always been welcomed in the country. Deaths this week during protests at its copper smelting operations in southern India are the latest incidents in a controversial rise that has seen the company clash with communities and environmental standards. It shows the challenges of mining in the world\u2019s most populated democracy. Last month, Agarwal hired AngloGold Ashanti Ltd.\u2019s Srinivasan Venkatakrishnan to take over as chief executive officer, giving Vedanta a chief with global mining experience and a strong reputation in India. Agarwal said it will allow him to better focus on company strategy, in the way he did before former CEO Tom Albanese left last year, as well as philanthropic work. But he won\u2019t be walking away from the company. "I\u2019ll never retire, why should I retire," he said.