Mumbai (19.06.2024): Delivering the keynote at the Crisil Ratings’ ‘Annual Infrastructure Summit’, Gautam Adani said it took India 58 years to get to its first trillion dollars of GDP, 12 years to get to the next trillion and just five years for the third trillion. There has never been a better time to be an Indian, and within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months, putting us on track to be a $30 trillion economy by 2050, Gautam Adani, the Chairman of the Adani Group, said on Wednesday.
Adani said, “If the period between 1991 to 2014 was about putting down the foundations and building the runway, then the period between 2014 and 2024 has been about the aircraft taking off. The single most important catalyst enabling this take off has been the quality of governance over the past decade. India’s remarkable infrastructure journey is fundamentally rooted in this government’s effectiveness in institutionalizing policy for transforming our nation's landscape—from one of challenges—to one of possibilities.”
National Infrastructure Pipeline (NIP) project that has outlined a projected investment of Rs 111 lakh crore over the period FY20 to FY25, is the benchmark in how a government can galvanize an entire sector and put in view of several thousand infrastructure projects across sectors like energy, logistics, airports and social infrastructure. India is targeted to become a $10 trillion economy, cumulative spend on infrastructure will exceed $2.5 trillion. “While every nation has its challenges, I can confidently state that India’s real growth is yet to come. The platform to create several trillion-dollar market spaces is already in place. Our estimates show that by FY ’32- India is targeted to become a $10 trillion economy – the cumulative spend on infrastructure will exceed $2.5 trillion. About 25% of this entire spending is expected to be on energy and energy transition,” he said.
The availability of green electron will be the primary driver of a nation’s economic progress. “The availability of green electron will be the primary driver of a nation’s economic progress, and in my opinion the market for the green electron as of now has no growth limits. We will produce the world’s least expensive green electron that will become the feedstock for several sectors that must meet the sustainability mandate,” the Adani group chairman said.
Data centers that house AI clouds will be the largest energy consuming industry in the world. “At the heart of AI revolution is Data Centre—the critical infrastructure needed to power the computational need of AI systems. AI revolution depends on machine learning algorithms, natural language processing, computer vision, deep learning and a host of other functions, all of which depend on the ability to process data at unprecedented speed and scale – capabilities that data centres provide. However, this needs massive amounts of energy making the data centre business the largest energy consuming industry in the world,” he added.
