Now is the best time to bet on India: Adani

Mumbai

In his message as the Chairman in the annual report of Adani Gas for the financial year 2019-20, the billionaire industrialist said that as the coronavirus crisis subsides, new opportunities, new leaders and a few stronger nations would emerge. “If there was a time to make a bet on India, there may not be a better time than now. What I can predict is that on the other side of this crisis will emerge massive new opportunities, will emerge great new leaders, will emerge terrific businesses, and will emerge a few stronger nations. Those that succeed will be the ones that understand that resilience is built on the other side of the tunnel of crisis and we are already getting ready for this,” his note said.

Noting that there is no way of predicting the short or mid-term possible economic outcomes of COVID-19 he said, there cannot be any denying of the fact that India over the next several decades will be a market continuously on the up and one that simply cannot be ignored. “It will be one of the world’s top consumption centres, manufacturing and service hubs and a beacon of stable democratic governance.”

On the group’s performance, he said each one of Adani Group six publicly traded companies has performed well in the last financial year even as they started to confront the trying circumstances following the first few weeks of 2020. He said that at Adani Group level, focus is on optimising capital utilisation, redesigning the organisational structure to minimise risk in the businesses and funding operations in phases.

“During the year, the Group has been able to bring strategic global equity partners in Adani Gas, Adani Green Energy Ltd and Adani Mumbai Electricity Ltd. The total investment is $1.6 bn; and will help drive future growth of our businesses,” he said.

He also said that AEML, part of Adani Transmission, recently completed an investment grade, $1 billion bond issuance, the first by a private integrated utility from India.