At the Vibrant Gujarat summit, Gautam Adani, Chairman of the Adani Group, announced plans to funnel Rs 2 lakh crore ($24 billion) into Gujarat's green and renewable energy sectors within the next five years.
This hefty investment is anticipated to generate approximately 100,000 direct and indirect employment opportunities in the state, as per Adani.
Highlighting the commitments made during the prior summit, Adani revealed that the company had pledged Rs 55,000 crore. Of this amount, over Rs 50,000 crore has already been invested, surpassing their initial target significantly.
"We've exceeded the promised investment of Rs 50,000 crore across various sectors and have notably surpassed our goal of creating 25,000 direct and indirect jobs," Adani emphasized.
The Adani Group is presently constructing a sprawling green energy park in Kutch, spanning 25 square kilometers with a capacity of 30 gigawatts (GW), even visible from space, Adani mentioned.
"Our focus is on expanding the green supply chain to foster a self-reliant India, establishing the most extensive integrated renewable energy ecosystem. This encompasses solar panels, wind turbines, hydrogen electrolysers, green ammonia, PVC, and expansions in copper and cement production," he explained.
Adani lauded India's economic strides since 2014, citing a remarkable 185 percent GDP growth and a 165 percent surge in per capita income, particularly commendable given the global challenges posed by geopolitics and the pandemic.
Following the Supreme Court's ruling clearing Adani Group of allegations by Hindenburg Research, Gautam Adani reclaimed the title of Asia's wealthiest individual. His net worth soared by $7.7 billion in a single day, reaching $97.6 billion, edging past Mukesh Ambani of Reliance Industries Ltd., whose net worth stood at $97 billion according to the Bloomberg Billionaires Index.
This resurgence for the self-made entrepreneur, whose career began in the diamond trade in the 1980s, marks a remarkable turnaround for Adani's conglomerate. Despite refuting allegations of corporate fraud by Hindenburg, the Adani Group witnessed a staggering $150 billion drop in market value last year. Subsequently, the company diligently worked to regain trust, paying off loans while addressing concerns raised by regulators, investors, and lenders. Vibrant Gujarat Summit Live: Here's How Suzuki Motors Announces Multi-billion Investment Plans
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