Ahmedabad:

Gautam Adani, Chairman of the Adani Group, today said he is amazed to see the adoption of Indian culture by Eric Garcetti, the United States Ambassador to India – from drinking kadak chai to savouring chhole bhature.

Earlier in the day, Mr Garcetti visited the Adani Group’s Khavda Renewal Energy Facility in Gujarat, saying it was a learning experience on how the company is helping India advance towards its zero-emissions goals.

In a post on social media platform X, Gautam Adani said he is grateful for the US envoy’s visit to Adani’s 30 GW Renewable Energy site at Khavda, as well as the flagship Mundra Port.

“Invaluable insights on geopolitics, energy transition and India-US relations in an open and candid Q&A with Adanians,” said Gautam Adani.

“Amazing to see his adoption of Indian culture, from kadak chai to celebrating holi, to playing cricket to speaking in Hindi and eating chole bhature every day,” he added.

Grateful to @USAmbIndia for his visit to Adani’s 30 GW Renewable Energy site at Khavda and Mundra Port. Invaluable insights on geopolitics, energy transition and India-U.S. relations in an open and candid Q&A with Adanians. Amazing to see his adoption of Indian culture, from… https://t.co/1oyd5IRF9ypic.twitter.com/ZOCNr2VApr

— Gautam Adani (@gautam_adani) July 16, 2024

The Adani Group is developing the world’s largest renewable energy project of 30,000 MW on barren land at Khavda in Kutch, Gujarat. Built across 538 sq km, it is five times the size of Paris and almost as large as Mumbai city.

“Inspired by my visit to the Khavda Renewal Energy Facility in Gujarat, where I learned about @AdaniGreen’s innovative projects advancing India’s zero-emissions goals,” Mr Garcetti earlier posted on X.

He said that sustainable energy is a cornerstone of environmental stewardship.

“Our bilateral partnership is key to shaping the solutions for a cleaner and greener future for the region and the world,” Mr Garcetti noted.

Inspired by my visit to the Khavda Renewal Energy Facility in Gujarat, where I learned about @AdaniGreen‘s innovative projects advancing India’s zero-emissions goals. Sustainable energy is a cornerstone of environmental stewardship, and our bilateral partnership is key to shaping… pic.twitter.com/ODaK7ipbkU

— U.S. Ambassador Eric Garcetti (@USAmbIndia) July 16, 2024

The commissioning of the first 2 GW at the world’s largest renewable energy plant in Khavda within 12 months of breaking ground has set a record.

Spanning over 8,000 hectares, the Mundra Economic Hub offers investment options as the largest multi-product SEZ, Free Trade and Warehousing Zone (FTWZ) and Domestic Industrial Zone. Mundra, the first port of APSEZ, welcomed its maiden ship in 1998. Since then, the company has built a network of 15 ports and terminals on the east and west coasts of the country. The flagship port Mundra became the first in India to handle 16 MMT cargo in a single month (October 2023).
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Mumbai:

Adani Group Chairman Gautam Adani attended the wedding of the youngest son of Reliance Industries Chairman Mukesh Ambani.

Mr Ambani’s youngest son Anant and fiancee Radhika Merchant, both 29, got married in a grand ceremony at the Jio World Convention Centre in Mumbai.

The wedding ceremony will be followed by ‘Shubh Aashirwad’ on Saturday, and culminate with the Mangal Utsav or wedding reception on Sunday.

Bollywood stars, politicians, international celebrities and other public personalities attended the wedding ceremony.
 

New Delhi:

Indian athletes are set to leave for Paris for the 2024 Olympics, which will be held from July 26 to August 11. The Paris Olympics is expected to draw a large number of Indian visitors. India will be sending close to 120 athletes to Paris, with the hope of getting more medals than the Tokyo Games.

Adani Group Chairman, Gautam Adani, gave a message to the Olympics team, wishing “the very best to the exceptional athletes who will represent India on the world’s grandest sporting stage.”

“As we get ready for the 2024 Paris Olympics, I wish the very best to the exceptional athletes who will represent our nation on the world’s grandest sporting stage. Their relentless riyaaz and unwavering dedication truly embody the new indomitable spirit of India. I am confident that this year, we will achieve our greatest medal haul ever. @AdaniOnlin is immensely honoured to support @WeAreTeamIndia on this remarkable journey. Together, we shall cheer for our champions and eagerly await the echoes of #DeshKaGeetAtOlympics. Jai Hind!” Mr Adani said on X.

As we get ready for the 2024 Paris Olympics, I wish the very best to the exceptional athletes who will represent our nation on the world’s grandest sporting stage. Their relentless riyaaz and unwavering dedication truly embody the new indomitable spirit of India. I am confident… pic.twitter.com/Oi7GsSj8Zb

— Gautam Adani (@gautam_adani) July 8, 2024

The Adani Group is the Principal Sponsor of India’s Olympic team.

Adani Sportsline partnered with Team India for the Commonwealth Games 2022, 2023 Asian Games and 2024 Paris Olympics as the principal sponsor.

Over 100 Indian sportspersons have qualified for the Paris Olympic Games, including an unprecedented 21 shooters.

India has repeatedly asserted its desire to host the Games and found support from International Olympic Committee (IOC) chief Thomas Bach. India will bid to host the 2036 Summer Olympics.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Industrialist Gautam Adani gave a shout-out to T20 World Cup 2024-winning Indian cricket team as their plane touched down at the Mumbai Airport on Thursday evening. 

The plane was accorded a special water salute and a guard of honour.

“Champions touch down at @CSMIA! A grand homecoming with a very special Water Salute and Guard of Honour for our Men in Blue. You have ignited a billion dreams and etched your names in history with this triumph. Your journey is an inspiration to every aspiring cricketer,” Mr Adani posted on X, along with a video. 

Champions touch down at @CSMIA_Official! A grand homecoming with a very special Water Salute and Guard of Honour for our Men in Blue. You have ignited a billion dreams and etched your names in history with this triumph. Your journey is an inspiration to every aspiring cricketer.… pic.twitter.com/bW0YURa2lq

— Gautam Adani (@gautam_adani) July 4, 2024

Earlier today, the T20 World Cup winners returned home to a heroes’ welcome and were greeted by euphoric fans in New Delhi before skipper Rohit Sharma led them to a meeting with Prime Minister Narendra Modi.

Crowds shouted “India, India” after the team landed at Delhi airport from the Caribbean, having been delayed for days by Hurricane Beryl.

Captain Rohit and his team wore Indian jerseys emblazoned with “Champions”.

The team is in Mumbai for an open-topped bus victory parade, which will end at Wankhede Stadium.

Last weekend’s win ended an 11-year global cricket trophy drought for India following their 2013 Champions Trophy win.

Their last World Cup victory was at home in the 2011 50-over edition under the captaincy of Mahendra Singh Dhoni.
 

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

New Delhi:

Gautam Adani, the Chairman of Adani Group, congratulated the Men in Blue for defeating South Africa by 7 runs in a nail-biting final to clinch the ICC T20 World Cup at the Kensington Oval in Barbados on Saturday.

“Nerves of Steel. What an incredible, nail-biting @ICC Men’s T20 World Cup Final between two powerhouse teams,” Gautam Adani posted on X.

“Congratulations to Team India on their superb win. Our pride in their unwavering spirit and determination shines brightly as India continues to rule the cricketing world,” the Adani Group Chairman added.

Nerves of Steel!!!
What an incredible, nail-biting @ICC Men’s T20 World Cup Final between two powerhouse teams!
Congratulations to Team India on their superb win. Our pride in their unwavering spirit and determination shines brightly as India continues to rule the cricketing… https://t.co/ZfX2YExuT0

— Gautam Adani (@gautam_adani) June 29, 2024

He also posted that it has been a fantastic tournament, with the “USA emerging as a new cricket power”.

The Adani Group also posted from its official X account, saying, “Victory strikes once again.”

Victory strikes once again! Congratulations to the men in blue on becoming champions for the second time. We salute your relentless spirit and passion as the nation celebrates this remarkable win. #INDvSApic.twitter.com/xsaO65ecqv

— Adani Group (@AdaniOnline) June 29, 2024

“Congratulations to the Men in Blue on becoming champions for the second time. We salute your relentless spirit and passion as the nation celebrates this remarkable win,” said the Adani Group.

Earlier, Hardik Pandya’s 3-20 and Jasprit Bumrah’s 2-18 helped an unbeaten India clinch their second title in the shortest format with a seven-run win over South Africa at the Kensington Oval.

Talismanic batter Virat Kohli also stepped up to end his lean run with a 59-ball 76 to help India post a competitive 176/7.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Ahmedabad:

Gautam Adani, Chairman of the Adani Group, said on Monday that with record results, robust cash positions, and the lowest debt ratios in the company’s history, their path ahead is illuminated with the promise of even greater accomplishments and “the best is yet to come”.

The Adani Group, India’s largest infrastructure conglomerate, began its annual week where all the listed group companies have their annual general meetings (AGM) lined up back-to-back.

The week commenced with the keynote address from Gautam Adani, speaking to his 6.7 million shareholders globally.

Gautam Adani, a first-generation entrepreneur known for building India’s largest infrastructure entity, highlighted three pivotal themes in his address – the group’s resilience in overcoming external challenges, India’s ascent on the global stage, and the future opportunities for the conglomerate and its extensive shareholder base of 6.7 million shareholders across 11 listed companies.

Drawing from his upbringing in the deserts of Gujarat, the soft-spoken Gautam Adani underscored the value of perseverance instilled by his mother, stating: “The true measure of our success is less about our achievements and more in our ability to stand firm in the face of adversity. In my case, I picked my lessons from my mother. Growing up in the harsh deserts of Banaskantha, what I learnt from her is that true strength lies in perseverance.”

“It is this perseverance that has allowed us to become one of the most admired companies in the country. And our perseverance was never more evident than that we demonstrated this past year. In the face of unprecedented attacks on our integrity, we proved our resilience,” he remarked, attributing the Group’s recovery to its core values of courage, trust and commitment.

Highlighting India’s growing influence globally and its pivotal role in addressing climate change, Gautam Adani asserted: “The world is witnessing the rise of India. This is India’s moment. We are now the force for stability, cooperation and progress in a complex world. And it is India’s macroeconomic stability and ambitious growth plans that inspire our confidence.”

With India targeted to become a 10 trillion-dollar economy by FY32, the spend on infrastructure is expected to grow at a CAGR of 20-25 per cent and reach a cumulative spend of $2.5 trillion.

“Given that, at the very core, we are an infrastructure company, we are well positioned to capitalise on the upcoming opportunities,” said the Group Chairman.

Outside the government, Adani Group remains the largest infrastructure developer with its extensive portfolio spanning power, ports, roads, airports, data centres, defence, manufacturing, logistics, and material.

“Our ability to conceptualise and then handle complexity and execute very large projects in difficult conditions is an unmatched competency that we continue to get better at,” Gautam Adani said, as he spoke about the group’s various ultra-scale projects including the world’s largest renewable park at Khavda, Gujarat and real estate project at Dharavi, Mumbai.

“And the outcomes are manifested in the financial numbers we delivered,” he added.

In FY24, the Group delivered a record performance registering a $10 billion EBITDA (Earnings before interest tax and depreciation) milestone with a 45 per cent growth year-on-year. Its net profit grew by 70 per cent. The group holds cash of more than $7 billion and the group-level debt is down to 2.2 times, much lower than infrastructure industry standards of 3.5-4.5 times.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

New Delhi:

Adani Foundation’s overall reach has now extended to over nine million individuals across 6,769 villages in 19 states, industrialist Gautam Adani told his company’s shareholders today.

Each figure related to the foundation tells a story of change, of a life empowered, and of a community given an opportunity to develop, the Adani Enterprises chairman said at the annual general meeting.

Adani Foundation is the corporate social responsibility (CSR) arm of the oil-to-ports business group.

Sharing the foundation’s achievements, he said the Adani Saksham skill development initiative empowered 1,69,000 young individuals with essential skills to help them secure a brighter future and potentially become entrepreneurs.

The health outreach programmes of the foundation, which includes its mobile health care units and camps, have touched two million lives, delivering essential services to many remote communities, he said.

The SuPoshan project, he said, delivers the necessary nutrition to 4,14,000 women and children to fortify the foundations of future generations.

Mr Adani said his wife, Priti, tells him at least one story every day about how Adani Foundation impacted people’s lives. “These are life lessons both humbling and inspiring at the same time,” he said.

Speaking at the AGM, Mr Adani also shared his journey and vision for the future. His speech highlighted how the company improved its financials and faced the challenges, including a short-seller attack last year.

Mumbai:

Gautam Adani, the Chairman of the Adani Group today listed three key areas which will further help the national infrastructure grow in years to come, driving the country to realise its goal of becoming a $30 trillion economy by 2050.

According to Gautam Adani, touted as ‘The Infra Man of India,’ the three key areas are – the role of government policies and governance in building infrastructure; the future of infrastructure and its interconnection with sustainability; and Adani Group’s areas of focus and the role it is playing in developing national infrastructure.

The 1991 economic liberalisation and reforms, announced by the late Prime Minister PV Narasimha Rao and the finance minister at that time, Dr Manmohan Singh, marked a watershed moment in India’s economic history and dismantled the ‘Licence Raj’ which had seen the government involved in almost every approval that businesses needed.

The statistics tell the story. As per World Bank data: In the three decades prior to liberalisation, the Indian GDP grew by 7 times. And in the three decades post-liberalisation, our GDP grew by 14 times.

“There could be no better validation than these numbers on the power of liberalisation,” Gautam Adani said while delivering the keynote at the Crisil Ratings’ ‘Annual Infrastructure Summit’.

However, the liberalisation in 1991 marked a major turning point. The breaking down of the ‘Licence Raj’ meant that the government did away with industrial licensing for most sectors.

It eliminated much of the requirement for businesses to obtain government permission to invest, or set prices, or build capacity.

“If the period between 1991 and 2014 was about putting down the foundations and building the runway, the period from 2014 to 2024 has been about the aircraft taking off,” Gautam Adani noted.

And a strong example of this ‘take off’ is the National Infrastructure Pipeline, the NIP programme.

The core essence of the NIP is its integrated approach involving participation from both the public and private sectors with the funding model divided between the two.

“I consider the NIP programme that has earmarked a projected investment of Rs 111 lakh crore over the period FY20-25 as a benchmark of how a government can put in place a national view of over 9,000 infrastructure projects across sectors like energy, logistics, water, airports and social infrastructure,” the Adani Group Chairman added.

The single most important catalyst enabling this take-off has been the quality of ‘governance’ that we have witnessed over the past decade, and the metrics speak for themselves.

“India’s fiscal investment has doubled, from 1.6 per cent of GDP to 3.3 per cent of GDP. Corporate Income Tax rates have fallen from 30 per cent to 22 per cent, creating headroom for corporates to invest. And the current account deficit fell from 3.5 per cent of GDP to 0.8 per cent of GDP,” informed Gautam Adani.

These outcomes are fundamentally rooted in this government’s effectiveness in institutionalising policy for transforming our nation’s landscape from one of challenges to one of possibilities.

The results are visible to all.

“First, almost every foreign visitor that I meet these days talks about the extraordinary infrastructure growth they see in India be it the quality of the multi-lane highways, the massive construction projects all over the country, access to ports across the nation’s coastline, the rapid penetration of green energy, a world-class and modern transmission grid, dedicated freight corridors, the quality and access to airports across the country, several new Metro rail networks, and the massive trans-sea links,” according to Gautam Adani.

Second, the Indian government’s Aadhaar and UPI infrastructure has transformed the financial ecosystem in the country.

This system has democratised access to financial services to such an extreme level that it has allowed even the previously unbanked population to participate in the digital economy.

“This has led to the stronger tax collections that we have already started to witness. It has also spurred the growth of fintech companies, streamlined subsidy distribution, and enhanced transparency, contributing significantly to the country’s digital transformation and economic growth,” Gautam Adani emphasised.

And third, is the very visible aspect about the ‘young-ness’ of India that we formally call the ‘demographic dividend’.

India’s median age stands at less than 29 years, while China’s median age today is already at 39.

“What is more remarkable is that even in 2050, India’s median age will be just 39 years. This means that India will be at its peak consumption for at least the next three to four decades. No other nation will have this scale advantage of domestic demand,” said Gautam Adani.

In terms of numbers, estimates show that by the end of FY32, the year India has targeted to become a 10 trillion-dollar economy, the cumulative spend on infrastructure will exceed 2.5 trillion dollars.

“These are all indicative of the potential of India, and I can confidently state that the platform to create totally new market spaces in India is now in place,” said Gautam Adani.

The Adani Group Chairman also spoke about two emerging sectors: infrastructure to enable energy transition and digital infrastructure.

“Let me first expand on the energy transition space. This will fundamentally change the global energy landscape forever. The global transition market was valued at approximately 3 trillion dollars in 2023 and is expected to grow to nearly 6 trillion dollars by 2030, and thereafter double every 10 years till 2050,” informed Gautam Adani.

India aims to install 500 gigawatts of renewable energy capacity by 2030.

“This ambitious target will require annual investments of over 150 billion dollars. The transition to green energy in India is expected to generate millions of new jobs in sectors such as solar and wind, energy storage, hydrogen and its derivatives, EV charging stations, as well as grid infrastructure development,” Gautam Adani stated.

On the ‘digital infrastructure’ space, Gautam Adani said we have now arrived at a world where the AI revolution sits at the core of every digital initiative.

“And at the heart of all this action is the Data Centre, the critical infrastructure needed to power all forms of computational needs, especially AI workloads for machine learning algorithms, natural language processing, computer vision and deep learning”.

“The fact is that the infrastructure required for energy transition and the infrastructure required for digital transformation are now inseparable as the technology sector becomes the largest consumer of the precious green electrons,” Gautam Adani added.

Over the past 30 years, the Adani Group has leveraged these drivers to become the world’s second-largest solar power company; India’s largest airport operator with 25 per cent of passenger traffic and 40 per cent of air cargo; India’s largest Ports & Logistics company with 30 per cent of national market share; India’s largest integrated energy player spanning across generation, transmission & distribution, LNG and LPG terminals, and city gas and piped gas distribution; India’s second largest cement manufacturer; and several other new sectors including metals, petrochemicals, aerospace and defence, super apps, and industrial clouds.

“Nothing holds more potential than the two I have outlined — the energy transition space and the digital infrastructure space. This is why the Adani Group is making massive investments in both these areas,” said Gautam Adani.

“The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation,” the Adani Group Chairman added.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

New Delhi:

Billionaire industrialist Gautam Adani met the Prime Minister of Bhutan on Sunday and announced the signing of an agreement for a 570 MW green hydro plant in the country. Mr Adani also met Bhutan’s King Jigme Khesar Namgyel Wangchuck along with the prime minister in Thimphu.

“Absolutely fascinating meeting with Dasho Tshering Tobgay, Hon. Prime Minister of Bhutan. Signed an MoU with DGPC for a 570 MW green hydro plant in Chukha province. Admirable to see @pmo_bhutan advancing the vision of His Majesty The King and pursuing broad ranging infrastructure initiatives across the kingdom. Looking forward to working closely on hydro & other infra in Bhutan,” he said.

The Chairman of Adani Group also shared photos with the two leaders. Mr Adani said that he was honoured to meet the King and was inspired by his vision for Bhutan and the “ambitious eco-friendly masterplan for Gelephu Mindfulness City, including large computing centres and data facilities”.

Honoured to meet His Majesty King Jigme Khesar Namgyel Wangchuck of Bhutan. Inspired by his vision for Bhutan and the ambitious ecofriendly masterplan for Gelephu Mindfulness City, including large computing centers and data facilities. Excited to collaborate on these… pic.twitter.com/YlTNJEZwfD

— Gautam Adani (@gautam_adani) June 16, 2024

“Honoured to meet His Majesty King Jigme Khesar Namgyel Wangchuck of Bhutan. Inspired by his vision for Bhutan and the ambitious ecofriendly masterplan for Gelephu Mindfulness City, including large computing centers and data facilities. Excited to collaborate on these transformative initiatives as also on green energy management for a carbon negative nation!” he said in a post on Instagram

In November last year, Mr Adani met the King and said he was excited to explore opportunities for the Adani Group to contribute to green infrastructure development for “one of our happy and warm neighbours”.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, Gujarat. FILE
| Photo Credit: REUTERS

Shares of all Adani Group companies tumbled on Tuesday as the initial trend showed BJP winning a lesser number of seats than predicted in exit polls.

The stock of Adani Ports plummeted 20 per cent, Adani Energy Solutions plunged 19.80 per cent, Adani Power slumped 19.76 per cent, Ambuja Cements tumbled 19.20 per cent and the group’s flagship firm Adani Enterprises tanked 19.13 per cent on the BSE.

Erasing the record-rally of the previous trade, the 30-share BSE Sensex dropped 4,131.44 points or 5.40 per cent to 72,337.34, and the Nifty slumped 1,263.3 points or 5.43 per cent to 22,000.60.

Shares of all Adani Group companies rallied sharply on Monday, with Adani Power surging nearly 16 per cent in line with a massive surge in the equity market, taking the combined market valuation of the ten listed firms to Rs 19.42 lakh crore.

The stock of the majority of the group firms, including Adani Enterprises, Adani Ports, Adani Power and Adani Green, also bounced back to their pre-Hindenburg Research report levels on Monday.

The BJP-led NDA was ahead with leads in 296 seats and the opposition INDIA bloc not far behind in 227 seats as votes were counted for the Lok Sabha elections on Tuesday, setting the course for a third consecutive term as prime minister for Narendra Modi but with a stronger opposition.

While the BJP was ahead in 236 of 542 seats, the Congress had leads in 97, signalling a dip for the ruling party from the 303 score in 2019 and a spike for the opposition party’s 52 from the last election. An election marked by acridity and acrimony could end with the treasury benches in reduced numbers and an opposition with more teeth.

ALSO READ:Adani Group’s FY24 net jumps 55%; mulls $90-billion capex

In trends available till 11.45 am, the NDA was close to the 300 mark, comfortably over the magic figure of 272 with the opposition INDIA bloc making significant gains.

Shares of all group companies surged on Friday by up to 14 per cent after US brokerage Jefferies put a bullish view on the group that is back to an expansion spree with a planned USD 90 billion capital expenditure over the next decade.