India’s consumption story will create $15 trillion economy: Gautam Adani

The covid-19 led disruptions notwithstanding, consumption by India’s middle class will help create a $15-trillion economy in two decades, said Gautam Adani, chairman of Adani group, on Monday.

In his address to shareholders at the annual general meeting of Adani Enterprises, Adani also rejected “reckless, irresponsible reporting” about the company’s shareholding in June which caused unexpected fluctuations in the market prices of his group’s stocks.

Adani added that there should be no doubt about India’s target to be a five-trillion-dollar economy in four years. “History has shown that, out of every pandemic crisis, there emerge several learnings – and I believe that India and the world are wiser as we go through this pandemic,” he said.

“India will be 5 trillion-dollar economy–and then go on to be a 15 trillion-dollar-plus economy over the next two decades. India will emerge as one of the largest global markets, both in terms of consumption size and market cap,” Adani told shareholders.

Referring to the drop in share prices of the group companies, Adani said the group’s focus is on creating long-term sustainable value. “Recently, a few media houses indulged in reckless and irresponsible reporting related to administrative actions of regulators.