Middle Class Consumption To Enhance Indian Economy By $15 Trillion Says Gautam Adani
- ByStartupStory | July 12, 2021
In two decades, Middle Class consumption will enhance Indian economy by $15 trillion, says Gautam Adani. It will also boost business growth as well. Adani, who was addressing shareholders of the group’s flagship, Adani Enterprises, India’s target to be a five-trillion-dollar economy in four years should not be doubted. “I personally see it as an inconsequential question. History has shown that, out of every pandemic crisis, there emerges several learnings – and I believe that India and the world are wiser as we go through this pandemic,” he said. “India will be a 5 trillion-dollar economy–and then go on to be a 15 trillion-dollar-plus economy over the next two decades. India will emerge as one of the largest global markets, both in terms of consumption size and market cap,” Adani said.
In the Financial Year 2021, the consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of the group’s listed portfolio was over Rs 32,000 crore: a year-on-year growth of 22 percent. “All the Adani stocks generate returns over 100 percent – and our businesses ensured that we returned close to Rs 9,500 crore to you, our equity shareholders. This is a 166% increase in profit after tax on a year-on-year basis,” he said. Talking about the recent decrease in share prices, Adani said the group’s focus is on creating long-term sustainable value. “Recently, a few media houses indulged in reckless and irresponsible reporting related to administrative actions of regulators. This caused unexpected fluctuations in the market prices of Adani stocks. Unfortunately, some of our small investors were affected by this twisted narrative in which some commentators and journalists seemed to imply that companies have regulatory powers over their shareholders and that companies can compel disclosure. In the long term, such diversions will not impact us,” he said.
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