India on track to become 10-trillion dollar economy by FY32: Adani

Industrialist Gautam Adani on Wednesday said that India’s cumulative infrastructure spending is projected to exceed $2.5 trillion by 2031. He highlighted that platforms to create several trillion-dollar market spaces are already in place in the country.

At a CRISIL event on ‘Infrastructure: The Catalyst for India’s Future,’ the founder and chairman of the Adani Group expressed confidence that India is on track to achieve its goal of becoming a $10 trillion economy by the financial year 2031-32.

He underscored the pivotal role of India’s energy sector in infrastructure development, noting that approximately one-fourth of the total infrastructure spending in the coming years will be directed towards the energy sector and energy transition.

Adani highlighted the emergence of green electrons as major drivers of India’s economic growth. Green electrons, which produce electricity from non-emitting sources like wind and solar, traverse wires to reach end-users and may be stored in batteries for future use.

Adani stated that his group will produce the cheapest green electrons in the world to support the growth of several sectors.

Comparing India’s growth momentum post-liberalization, Adani said that governance has been the most important catalyst for infrastructure sector growth since 2014.

“If the period between 1991 and 2014 was about laying 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.”