Indian Economy News

Adani Group to add US$ 1 trillion in India’s GDP every 12-18 months

  • IBEF
  • December 30, 2022

Mr. Gautam Adani, Chairperson of the Adani Group, informed that the credit metrics of his businesses are improving and over the past nine years, Adani Group’s profits have grown at twice the rate of their debt. He further stated that the ports-to-power conglomerate is financially sound and secure.

He reported that the Debt-to-Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) ratio of the group has decreased to 3.2 from 7.6 because of the strong profit trajectory.

Mr. Gautam Adani is continuously expanding and diversifying beyond ports and coal-based businesses into green energy, airports, cement, media, data centres and metals. The majority of the tycoon’s business which was debt fuelled showed a broader lender mix with a reduction in borrowings from banks from 86% to 32% in the past nine years.

He stated that the group would add US$ 1 trillion dollars to India’s Gross Domestic Product (GDP) every 12-18 months for the next decade. He also commented that a strong focus on capital expenditure, employment, spending on social infrastructure and social security by the nation will help to boost its economic growth while emerging India as a green hydrogen exporter as per the government’s production-linked incentive plan.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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