Adani Group is stronger than ever and our best is yet to come, industrialist Gautam Adani said today at the annual general meeting of Adani Enterprises' shareholders. The Adani Group chairman also reflected on how his company fought off an attack by the foreign short-seller Hindenburg last year and articulated his plans for the future.
The industrialist highlighted their massive developmental projects: the Khavda park which is now home to the world's largest renewable energy installation and Mumbai's Dharavi, the largest redevelopment project in the world.
"I am proud to say that our record-breaking achievements in 2023 underscore our alignment to national priorities as well as our ability to execute the most complex, large-scale projects with unmatched expertise," he told his shareholders.
'World Witnessing Rise Of India'
He also praised the government for increasing its infrastructure and said such initiatives will benefit from the multiplier effect.
Mr Adani said the world today stands at a crossroads strewn with geopolitical tensions, but despite the challenges, it is witnessing the rise of India.
"In this uncertainty, the world is witnessing the rise of India. This is India's moment. We are now the force for stability, cooperation and progress in a complex world. And it is India's macroeconomic stability and ambitious growth plans that inspire our confidence," he said.
He pointed out that India is set to become the world's third-largest economy by the end of this decade. "India is no longer at the crossroads of destiny - we stand on the brink of our greatest growth phase," he said.
Mr Adani also shared the latest financial numbers of his group, which demonstrates their "stable infrastructure platform", and said it is well positioned to capitalize on the upcoming opportunities.
"The possibilities before us are immense. We are stronger than ever. And our best is yet to come."
On Hindenburg
The Hindenburg charges led to a massive stock rout of Adani Group companies, but probes by the markets regulator and Supreme Court found no irregularities and they gave it a clean chit last year.
Mr Adani said it was a calculated strike that came just two days before its Follow-on Public Officer ended. It was two-sided, which included a "vague criticism" of our financial standing and an information distortion campaign that dragged us into a political battlefield, he said.
"In the face of an unprecedented attack on our integrity and reputation, we fought back and proved that no challenge could weaken the foundations on which your Group has been established," said the Adani Group chairman.
The headwinds that tested us became the very ones that made us even stronger, asserted Mr Adani.
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