“Ab Raja Ka Beta Raja Nhi Banega, Jo Hakdar Hoga Wahi Raja Banega” (Now the son of the king will not become the king, the entitled one will become the king). Proving the common modern phrase, Gautam Adani is truly a self-made Billionaire. One of the cornerstones of the unprecedented economic rise of India, he is now the fifth richest man in the world.
Adani inching closer to Bezos
Leaving one of the most successful investors Warren Buffet behind, Gautam Adani’s total accumulated net worth is $125.9 Billion. With this whopping bank balance, Adani is now not only India’s but Asia’s richest man. According to the Forbes Real-Time Billionaires report, with a net worth of $268.2 Billion, Elon Musk is the richest man in the world. Adani is now inching closer to billionaires like Jeff Bezos and Bill gates. At the time of writing, Adani had only $46 billion less than Bezos, while the gap between him and Microsoft patriarch Bill Gates is only $5 billion.
Adani made his fortunes mainly through investing in Infrastructure sectors like port & airports management, power generation & transmission and the real estate sector. With the change in policies related to energy infrastructure, Adani Green Energy Limited, one of the largest renewable energy companies in India will give another boost to Adani’s business.
Adani: Linchpin in India’s Economic Rise
In his early days, Adani worked as a diamond sorter in Mumbai. He then ran a small-scale plastic business in Ahmedabad & now in the business of the country’s pillar of growth, infrastructure. His journey is truly inspirational for the young entrepreneurs of India.
A first-generation entrepreneur, Adani is mainly involved in the big-budget infrastructure development & management like port, power, real estate, mining etc. Benefitting from the country’s liberalized policy in the 1990s, he expanded his business in the other commodities sectors as well. His first big investment in infrastructure was in 1995 when he acquired the managerial responsibility of Mundra Port in Gujarat. Further, Adani’s expertise in port management provided India with the easing of foreign businesses.
A country’s economic growth is directly proportional to its infrastructural growth. After the Liberalization, Privatization & Globalization (LPG) reform in India, there was an urgent need to build the dilapidated infrastructure of this country to stimulate the pace of investment. But, the country’s budgetary constraints didn’t allow it to invest in the long-term big-budget infrastructure projects. Fighting with the double-edged swords of social & economic backwardness, private businessmen of the country gave an alternate option of investment and took the weight of infrastructure growth on their shoulders.
Gautam Adani was one of the top individual businessmen, who invested & took the responsibility for infrastructure development. His investment in energy, transportation & logistics, Airports etc. not only eased the budget constraint of the country but also provided efficient managerial expertise which further helped India to move in the direction of privatization.
Another leap forward in Energy Sector
Energy is the moving force of an economy & Indian energy needs are largely dependent on foreign countries. Its energy import bills are set to exceed $100 billion. The huge import bill has affected the Country’s foreign & economic policy and is a great impediment in solving the budgetary constraints.
Gautam Adani has decided to minimize India’s energy import bill. Recently, he announced plans to invest around $ 70 billion in renewable energy projects which will not only help India in meeting Paris’s climate change agreement but will substantially decrease the country’s dependency on foreign countries for its energy requirements. Through this investment, Adani has also eased the burden of infrastructure spending on the Modi Government.
Nehrunomics to Modinomics
Prime Minister Modi had once defined his economic policy in one simple line, “Government has no business to do business.”
After Independence, the economic policy of the country was more inclined toward Communism than Socialism. The state was controlling everything under the sun. From policy making to policy implementation & from producer to distributor of goods, everything was state-controlled. Even the state was rationing the private businesses policies. The Nehruvian economic model totally failed & led the country to economic bankruptcy.
But the 1990s LPG reform & the current policy change brought by the Modi government has once again brought the nation on the path of economic development. Working on its philosophy of capitalism on the economic front & state’s responsibility for social welfare, Modinomics has set the path of exponential growth in the country. The ground implementation of welfare schemes & change in financing policies of big-budget capital projects has solved the double edge swords problem of socio-economic development.
An increase in productivity of any business is directly attributed to its efficient management system. Businessmen like Gautam Adani have not only helped the government in easing its budgetary problem but have also brought world-class managerial expertise to solve the efficiency crisis in India’s production market. Moreover, the combined effort of the private & public sectors has set the development in motion.
Furthermore, Gautam Adani’s achievement in his exponential growth is also speaking of the growth trajectory of India’s economic rise. With the easing business opportunities & government’s support in building entrepreneurship, the environment has further kept the Indian businesses in line to lead the world order. The wave of startups in India is also giving a message that many business leaders are on the path to becoming the Gautam Adani.