by: Nav Jeevan

India will become 3rd largest economy by 2030, 2nd by 2050, says Gautam Adani

  • Adani was delivering a keynote address on “India’s Path to an Economic Superpower” at the World Congress of Accountants 2022 in Mumbai on Saturday.
  • By 2050, there is potential for India to become a net exporter of Green Energy: Gautam Adani
  • India stands as the foremost example of how a smartphone and inexpensive data – powered by aspirations – can create jobs and transform a nation: Adani Group Founder

NE BUSINESS BUREAU

MUMBAI, NOV 20

World’s third richest man, Adani Group’s Founder and Chairman on Saturday claimed that India will become the world’s third-largest economy by the end of 2030. He added that the country will become 2nd largest economy by 2050.

Adani was delivering a keynote address on “India’s Path to an Economic Superpower” at the World Congress of Accountants 2022 in Mumbai on Saturday.

Gautam Adani said that the next three decades would propel India to the forefront of entrepreneurship.

“In 2021, the pace of unicorn creation in India has been the fastest in the world. This will continue and for every unicorn that rises, we will see the birth of dozens of micro-unicorns. In 2021, India added a unicorn every 9 days. It executed the largest number of real-time financial transactions globally – a staggering 48 billion. This was 6 times greater than the US, Canada, France, and Germany combined. All of this has laid a base for the Fourth Industrial Revolution where humans and machines are all interconnected. To be then followed by the AI and Web 3.0 revolution where the physical and digital world start fusing. I expect that – just like India’s internal demand leading to a surge in FDI – the number of start-ups being created will lead to a surge in venture capital investments. VC funding in India first crossed one billion dollars in 2015. This year, VC funding will exceed 50 billion dollars. That is a 50X acceleration in just 8 years. India stands as the foremost example of how a smartphone and inexpensive data – powered by aspirations – can create jobs and transform a nation,” he added..

On renewable energy, the industrialist said that the combination of solar and green power, coupled with green hydrogen would open up “great” opportunities for the future.

“By 2050, there is potential for India to become a net exporter of Green Energy,” the Adani Group chairman said on Saturday.

In a roughly 30-minute long speech, Adani expressed confidence in India’s growing economy and lauded Prime Minister Narendra Modi-led Central government initiatives.

“In 1947, there was an opinion that Indian democracy would not survive. Not only we survived, but now India is regarded as a role model for a peaceful transfer of power from government to the next”. Adani added, “It is after more than two decades… that we have a government of the majority of its own. This has given our country the ability to initiate several structural reforms”.

Speaking about the rapid rise in India’s GDP, Adani said, “It took 58 years to get our first trillion dollars of GDP; 12 years to get the next trillion and just 5 years for 3rd trillion”.