India will be an economic superpower: Gautam Adani | News Bharat

On November 27, 2022, the chairman and owner of the multinational conglomerate Adani Group, Gautam Adani, in his keynote address at the 21st World Congress of Accountants at the Jio World Congress Centre, Mumbai, said that India is on an investment path to become an economic superpower in the world economy. There are two factors responsible for this remarkable change. According to the Speaker, India now has its own majority government after two decades of coalitions and short-term governments.

Also, the Indian nation is seen as a role model for peaceful transfer of power from one government to the next globally. All of the above enabled India to initiate structural reforms in its political and administrative systems. Along with providing public services and balancing a long-term plan with quick execution is gradually increasing. He added that India has completed 75 years of democracy and has seen remarkable acceleration during this period.

It took 58 years to reach the first trillion dollars in GDP (gross domestic product), 12 years for the next trillion, and a short five years for the third trillion. The current pace will see India add $1 trillion to its GDP every 12 to 18 months and surpass $45 trillion.

Adani added that the world is currently facing uncertainty. Multiple factors intersected and interfered with each other. The Covid pandemic, the war between Russia and Ukraine, climate change, inflation and their consequences have affected globalization. The contours of international relations have fundamentally changed.

Some assumptions, such as the intactness of the European Union, Russia playing a reduced international role, and China adopting Western democratic systems and the support of developed nations to help developing countries during the pandemic, have shattered the myth of a unipolar or bipolar world superpower to step in and stabilize global governments.

According to Adani, in the emergence of a multipolar world, the superpowers should take the responsibility to intervene and fight the crises, not to force other nations to submit. Superpowers must keep “Humanity” as their core operating principle and focus on a course of action based on that principle.

He concluded his speech by stating that if there was ever a time to become an Indian, it was now. The foundation for building an independent and sustainable India has been laid. There is a need for India to tap into its markets to help it become self-reliant. Independent India means 100 percent poverty eradication, 100 percent literacy, 100 percent health and 100 percent vocationally trained. This is what a superpower should be.

The World Congress of Accountants has been held every four years since 1904. Around 6,000 top accountants from 130 countries took part in person, while 10,000 joined virtually. This event is organized by the Institute of Chartered Accountants, India (ICAI).

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