Adani Group Chairman Gautam Adani has expressed hope that India's economy will be $15 trillion. For this, the country will have to wait till 2040. Also, it can become a country with a large economy in the global market.
In the annual meeting (AGM) of the company, Adani said that work is going on fast in the country on infrastructure. The country has a large middle-class population. Also, the working-age is young and there is a consuming population. This will have a positive impact on the economy of the country. He said that the country will be among the largest economies in the world in terms of consumption size and market cap.
Gautam Adani said that our group had crossed the market cap of $ 100 billion i.e. Rs 7.50 lakh crore in the first month of April this year. The group's listed companies have performed well. This valuation is a first for a first-generation Indian company. So we have a reason to be proud. He said that the path we have taken and what we will do next will be proud for us. We attribute the performance and dependability of our companies to the core value we believe in. Those values drive the nation-building of our objectives.
Adani said that recently there were reports of freezing of foreign investors' holdings in our stock, which has caused loss to our small investors. These reports were baseless and irresponsible. This has seen a very bad effect on the stock of Adani Group. We focus on the long term and we are confident that we will continue to create value for our investors and partners going forward, he added.
There is an investment of about 45 thousand crores of foreign investors in companies spread from port to the energy sector. Since this news in the second week of June, the total market cap of the group has come down by Rs 2.34 lakh crore. Also, the stock has declined by 20-40%. The 59-year-old Adani also suffered a loss in the ranking of the world's richest businessman due to this news. He is now at number 21. Whereas before the news, he was the richest businessman at number 14.
He said that such news will not affect our long-term vision. We always believe in overcoming challenges. Every challenge makes us stronger. The group has a total of 6 listed companies. It has green energy, port, transmission, power, and other companies.
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