A combination of India’s soft power with the hard power of US$28 trillion GDP and a US$30 trillion value stock will give an incredible nation, that is taking the journey to becoming the greatest opportunity of the 21st century, believes Gautam Adani.
He, at the TiE Global Summit in his talk on Incredible India and the opportunities ahead for India, said the country is today at a dramatic inflexion point. “I believe that over the next few decades India will have firmly positioned itself as the greatest opportunity of the 21st century and become even stronger the year 2050 onwards,” Adani said. “There, however, will be challenges such as periods of slowdown that every large economy goes through. Yes, there will remain difficult challenges for India to overcome. But, there simply cannot be any denial of the scale of the opportunity that awaits India.”
The billionaire businessman highlighted that the global GDP at present is US$85 trillion of which India is US$2.8 trillion. He said that in 2050, the global GDP is expected to be US$170 to 180 trillion and the Indian GDP, then at about US$28 trillion will contribute over 15 per cent to the global economy. “I fully expect this to be the case as a lot of the necessary structural reforms that were needed are now getting in place and these reforms lay the foundation for accelerating our national growth,” Adani said. “One in every three of the world’s middle-class consumer will be Indian and India will form the largest global middle-class.”Adani explained that the middle-class will insulate India and drive an unmatched rate of internal consumption – no nation has ever created such a massive middle-class.
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In regards to energy and technology, he pointed out that ever since 1760s first revolution, energy has formed the lifeline of a nation’s economy. Adani observed that research also shows the role of information and communication technologies (ICT) in driving economic growth and a country’s productive capacity. “Today both the field of energy and the field of technology are rapidly intersecting. I see this technology-energy intersection as being the single most defining factor to lift the balance of India’s population, not just out of poverty, but right into the middle-class bucket and leading to business models that will be transformational.”
