India's growth acceleration unstoppable, journey towards 2050 to be even transformative: Gautam Adani
Mumbai, March 13: The India growth story is unstoppable, and within the next decade, the country will begin adding a trillion dollars to its GDP every 18 months, setting us on the path to become a $25-30 trillion economy by 2050, said Adani Group Founder and Chairman, Gautam Adani.
Addressing a YPO (Young Presidents’ Organisation) Bombay chapter event this week, Gautam Adani said that while the past three decades were about opening India to the world, the upcoming three decades will see the world opening up to India.
“Keep in mind that following our Independence, it took us 58 years to reach our first trillion dollars of GDP, 12 years to achieve the next, and just 5 years for the third trillion. This acceleration is unstoppable,” Gautam Adani told the packed house.
The digital age has democratised the playing field. It has thrown open opportunities to a far greater number of companies, he said.
“This is the age of exponential growth. The most striking manifestation of this digital revolution is the emergence of new disruptive tech billionaires. An interesting statistic shows that in the 1990s, India had just two billionaires. Today, the number is 167,” Gautam Adani noted.
If the last three decades since the 1990s have laid the foundation for India to become the world’s fifth-largest economy, “the journey towards 2050 will be even more transformative and disruptive”, he said.
“And our journey is just starting – a journey built on one of the most exciting platforms that ever existed – a platform called India,” Gautam Adani said.
He also said that by 2050, he foresees the total market capitalisation of listed companies in India to dramatically increase and range from $40-45 trillion, indicating a 10-fold growth from the current $4 trillion.
“No other nation will be even close to achieving such growth, and India will have its own trillion-dollar valued companies. The trends are already visible, and one sign is seen in the number of billion-dollar valued companies we now have,” emphasised the Adani Group Founder and Chairman.
Today, India is home to over 500 companies valued at over a billion dollars, ranking the fourth in the world, he added.
“In 1991, we had none,” Gautam Adani said.