Adani Group chairman Gautam Adani on Tuesday said the group is investing $70 billion in a new energy business that will turn India from a net importer of oil to an exporter of green hydrogen.
Speaking at the Annual General Meeting (AGM) of Adani Enterprises Ltd, the billionaire said the group has never “slowed or walked away from investments in India.”
The Adani Group chairman emphasised the group’s success is aligned with India’s growth story. Adani highlighted some of the company’s major achievements in FY22, underscoring that the conglomerate’s combined market capitalisation exceeded $200 billion during the year.
Adani said the group is now the largest airport operator in the country and has forayed into cement business with the acquisition of Holcim.
“We made entries in sectors ranging from data center, digital super apps and industrial clouds, to defence and aerospace, metals and materials. Our combined group market capitalisation this year exceeded $200 billion,” he added.
Talking about climate change, he said India has been one of the very few countries that accelerated its renewable energy footprint despite Covid-19 and energy crisis.
We've done so at a time when several developed nations paused their pursuit of renewable energy goals, he added.
Adani Group through its various subsidiaries also ventures into airport operations, edible oils, road, rail, and water infrastructure, data centers, and solar manufacturing, among others.
The company is headquartered in Ahmedabad and primarily forays into mining and trading of coal and iron ore.
