Mumbai. The annual Infrastructure Summit 2024 of rating agency Crisil started today. The inaugural address at this event was given by Gautam Adani, one of the country’s top industrialists and chairman of the Adani Group.
Gautam Adani praised Crisil for its credit rating and advisory services in the country. He said that we just have to look back and see that the most effective time in the history of a country has been when they dominated the infrastructure landscape. Gautam Adani presented a blueprint of infrastructure reforms from the ancient Roman Empire to China at Crisil’s Infrastructure Summit. He said that the great industrial revolution led to large-scale investment and led to economic boom. Gautam Adani said that due to this, Britain became one of the most powerful countries in the world.
In his speech, Gautam Adani highlighted the role of government policies and governance in the creation of infrastructure, the relation of infrastructure to future and sustainability, and the continuing role of Adani Group in the country’s infrastructure development. Gautam Adani said on this occasion that India’s infrastructure industry is going through a phase of amazing change. When we look back after a decade, we will be able to understand it completely. He said that this will lay the foundation for India’s development for many decades. Gautam Adani referred to the phase of economic liberalization that began in India in 1991 and enumerated the work done by former PM PV Narasimha Rao and then Finance Minister Dr. Manmohan Singh. He said that World Bank data shows that India’s GDP grew 7 times in the 3 decades before liberalization and GDP grew 14 times in the 3 decades after liberalization.
Gautam Adani also talked about ending the license raj and the dominance of certain business houses at one time. He talked about NIP i.e. National Infrastructure Pipeline and said that this program has set an investment benchmark of Rs 111 lakh crore in 2020-25. Gautam Adani also counted the works of the current Modi government on this occasion. He said that the corporate tax rate has come down to 22 percent. Apart from this, the current account deficit has also come down to 0.8 percent of GDP. He said that its result is visible to everyone.
Gautam Adani gave examples of work like highways, ports, transmission grids, special corridors for freight, airports, new metro rail networks in the CRISIL program. He said that he gives information about all these to every foreign citizen during his meeting. Apart from this, Gautam Adani talked about changing the financial ecosystem with the UPI infrastructure brought during the Modi government. Emphasizing on India’s young population and its use, Gautam Adani said that India stands far ahead of China due to this. He said that India has set a target of a 10 trillion dollar economy by the end of the financial year 2032. Then the expenditure on infrastructure will also be 2.5 trillion dollars. Gautam Adani said that the stage is ready to create new markets in India. He also said that there is a lot of enthusiasm about energy transition and digital infrastructure.
In the CRISIL program, Gautam Adani said that his group has become the second largest solar power company in the last 30 years. Apart from this, Adani Group is also India’s largest airport operator. Adani Group has India’s largest port and logistics company. Its market share is 30 percent. Adani Group is the largest player in the production, transmission and distribution of energy in India. Apart from LNG and LPG terminals, it also does gas supply and pipeline distribution in cities. Gautam Adani said that his group is the second largest cement producer in the country. Apart from this, it is also working in metal, petrochemical, aerospace, defense, super apps and other industries.
Gautam Adani said that in the next 10 years, his group is going to invest more than $100 billion in energy transition. He also talked about advancing the non-conventional energy sector chain. Apart from this, he also talked about Adani Group’s efforts in making every necessary item for green energy. Gautam Adani said that we are standing on the shore of a vast ocean. Sometimes there is turbulence in its water. Still, we are determined to build a bridge to cross it. Our willpower keeps inspiring us to work together with everyone to complete the work and bring back India’s prestige in the world. Gautam Adani said at the end of his address at the Crisil program that this is why he says that there is no better time than this to be called an Indian.