Business

India getting back to age of controlling one-fourth of global economy: Karan Adani

Adani Ports Chief Executive Officer (CEO) Karan Adani. File photo

Adani Ports Chief Executive Officer (CEO) Karan Adani. File photo | Photo Credit: AP

India can get back to the age of controlling one-fourth of global economy like the way it used to do earlier, Adani Ports and SEZ CEO Karan Adani said on Wednesday, May 18, 2022.

While speaking at Amazon Smbhav 2022, son of Asia's richest man Gautam Adani, said that there is fire in the belly of Micro, Small and Medium Enterprises (MSMEs) in rural India and tier 2 or 3 three cities where there is need to improve technical infrastructure to tap into the firepower the country has for growth.

He said that earlier people used to call India "one ki Chiddiya (golden bird).

"It used to control one-fourth of the world's GDP, and I think we are getting there again. I personally feel in my lifetime we will see India going back to that golden age where we would be controlling one-fourth of the global economy.

"I think people, entrepreneurs, as well as young people, unless they are part of this mission, India cannot reach that goal. I think we just need to believe in India, we have to believe that we can reach there," Mr. Adani said.

Empowering small businesses

He said that the country needs to tap the potential rural India has and make small businesses more powerful.

"What I personally feel is that the power of India is actually in rural India and tier two or tier three cities. I think the kind of ambition, thinking, solution orientation and the kind of firepower, I would say, the fire in the belly, if I may, the entrepreneurship that you will find in these kids and in these city's, it's unbelievable," Mr. Adani said.

He said that the technology has removed barriers that checked access to information markets and knowledge.

In response to questions on decision making dynamics between him and his father, Mr. Karan Adani said he has very open communication with his father.

"I must appreciate my dad on this front because he's very curious. He's actually more curious than all of us in terms of understanding how the world is moving towards what young minds are thinking. How are they thinking? Why are they thinking what they are thinking? And I think we have that environment of push and pull," he said.

Mr. Adani said that after the discussion whatever his father decides gets implemented.

"Most important is that once we leave the room, we don't go back and say, 'You know, I don't agree with this', 'This was not the right decision', or 'I'm not going to implement that'. You know, that's the way we work," he said.


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Printable version | May 19, 2022 2:42:48 am | https://www.thehindu.com/business/india-getting-back-to-age-of-controlling-one-fourth-of-global-economy-karan-adani/article65427607.ece