top of page

Adani: The Catchphrase of the Year

Updated: Jan 7, 2021





The multi-billionaire Indian business tycoon, Gautam Shantilal Adani has been the talk-show of the year. The founder and Chairman of the Adani Group, a leading diversified conglomerate in India,

Gautam Adani has become a legend today by taking his businesses to new heights. Adani Group, an Ahmedabad-based multinational company initially started as a commodity trading firm in 1988 and diversified into the import and export of multi-basket commodities. With the building of Mundra ports the largest private port of India on the shores of the Gulf of Kutch near Mundra, Gujarat in 1998, Gujarat Adani Port Limited (GAPL), began operating its company in 2001.

Soon it started expanding and diversifying its business with the introduction of various commodities in business such as Energy and Logistics with interest in Gas Distribution, Coal Trading and Mining, Power Generation and Transmission, and Oil and Gas Exploration. In 2020, Adani's wealth has increased to $30.4 billion, making him the 40th richest person in the world standing at a total net worth of US$28.5 billion.


Adani Enterprises had even won the rights to run six Indian airports after a competitive bidding process in February 2019. Adani Enterprises signed the concessionaire agreement with the AAI for six airports and is all geared up to surge the Aviation industry to new levels. The Adani Group has disclosed plans of becoming 'India's leading airport administrator', which was expressed in its yearly report for FY20. These factors have been a driving force in the increase of the Adani wealth and market shares of the group by witnessing QoQ revenue growth of 69.25%.



Adding onto this the stock of Adani Group renewable energy company has rallied 1,259 per cent in a year. Adani Green Energy(AGEL),with a current project portfolio of 5,990 MW. In addition to this, AGEL is L1 in India’s largest solar manufacturing tender and expects an award of 8GW manufacturing linked projects,” the company said in the 2019-20 annual report.



Amidst the high soaring achievements in the Adani group timeline, the Stop Adani Movement led in Australia as Carbon pollution is the primary cause of climate change today, The building of the Carmichael Coal Mine has been protested by many environmentalists but the Queensland Government’ decision in our opinion is a good one as it recognises the need for employment in an area that desperately needs a shot in the arm. In turn the Federal Government is supportive so here we have a decision that is warmly welcomed by the three tiers of government but equally disputed too. Even the funding of the project has been a major concern for the group but the State Bank Of India has turned to be their archangel in this need of hour by providing $1 Billion whereas it was initially denied by The big 4 banks in Australia including the Commonwealth Bank of Australia, Westpac Banking Corporation, the New Zealand Banking Group, and National Australia Bank and by the The top five leading global banks — Citibank, Deutsche Bank, Royal Bank of Scotland, HSBC and Barclays.

The main question of the hour is how is the Adani group planning to cope up with such contingencies that come lurking around the corner with all its achievements of the year and the scepticism related to the Carmichael project.


BY-

Rakshdeep Kaur and Yashwinder Kaur

0 comments

Recent Posts

See All

Comments


bottom of page