Adani Group Chairman Gautam Adani on Wednesday said there has never been a better time to be an Indian and that within the next decade India will start adding one trillion dollars to its GDP every 12 to 18 months, putting us on track to become a $30 trillion economy by 2050.
Delivering the keynote address at Crisil Ratings' 'Annual Infrastructure Summit', Gautam Adani said it took India 58 years to achieve its first trillion-dollar GDP, 12 years to reach the next trillion and just five years to reach the third trillion.
“Given the pace at which India is growing and the way the government is implementing social and economic reforms, I estimate that within the next decade, India will start adding one trillion dollars to its GDP every 12 to 18 months,” the Adani Group chairman told attendees.
Gautam Adani said, “This will put us on track to become a $30 trillion economy by 2050. At this point, I expect the stock market capitalisation to be over $40 trillion. This effectively means that India will potentially add $36 trillion to its stock market capitalisation over the next 26 years.”
Currently the capitalization of the Indian stock market is more than $5 trillion.
“No other country even comes close to these kinds of possibilities. There has never been a better time to be Indian,” the Adani Group chairman said.
“India's infrastructure industry is undergoing a dramatic transformation, the impact of which we will only fully understand after a decade,” he said.
“We have launched an infrastructure capital expenditure cycle that has never been seen before, and it lays the foundation for many decades of growth for India,” he said.
“And it starts with the quality of governance. There are very few sectors globally that are so tightly linked to government policy as infrastructure,” Gautam Adani said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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