Shillong, June 19: 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.
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.
“Given the pace at which India is growing and the way the government has been executing social and economic reforms, I anticipate that within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months,” the Adani Group Chairman told the gathering.
“This will put us well on track to be a $30 trillion economy by 2050. At this time, I expect the stock market capitalisation to have exceeded $40 trillion. What this effectively means is that over the next 26 years, India will potentially add $36 trillion to its stock market capitalisation,” Gautam Adani said.
Currently, the Indian stock market capitalisation is over $5 trillion.
“No other nation is remotely close to such a scale of possibility. There has never been a better time to be Indian,” said the Adani Group Chairman.
He said, “India’s infrastructure industry is undergoing a stunning change, the impact of which we will be able to appreciate fully when we look back a decade later.”
“We have kickstarted an infrastructure capex cycle never seen before, and this lays the foundation for several decades of India’s growth,” he said.
“And this starts with the quality of governance. Very few sectors globally are as tightly linked with government policy as infrastructure,” said Gautam Adani. (IANS)