Adani at the AGM: In a strong position to carry out initiatives with the Modi government in its third term
Gautam Adani emphasized the group's ongoing contribution to India's growth at the Adani Enterprises AGM, following the Modi-led National Democratic Alliance's election to a third term. Adani addressed the issues raised by the Hindenburg controversy by highlighting his commitment to major projects like the Dharavi reconstruction in Mumbai and his financial stability. By the end of the decade, he predicted that India's economy will rank third in the world.
Gautam Adani stated at Adani Enterprises' Annual General Meeting on Monday that the Adani Group is well-positioned to carry on the economic and social programs that have driven the "spectacular" journey over the last ten years, especially with the Narendra Modi-led National Democratic Alliance having been voted to power for a third consecutive term.
"India is about to enter its biggest growth era; we are no longer at the crossroads of destiny. Our country is expected to have the third-largest economy in the world by the end of this decade," Adani stated. "Given our demographic dividend, we are well on our way to being the largest middle class that the world will ever witness," he stated.
The Indian billionaire also discussed the January 2023 scandal around US-based short-seller Hindenburg Research, which allegedly caused corporate governance violations and plunged the firm into extreme upheaval. At the time, Adani refuted each and every accusation.
"Most short sellers aim to profit from financial market gains. This was not like that. It was a two-pronged assault that dragged us into a political conflict while also making a general critique of our financial situation, according to Adani. The opposition staged a public demonstration and demanded that a JPC look into the claims. In the end, the Supreme Court stepped in and formed an expert team to assist SEBI in looking into the claims.
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