India is on track to be a $25-30 trillion economy by 2050, Adani Group chief Gautam Adani said today, adding that he anticipates that India will add a trillion dollars to the GDP every 18 months within the next decade, and become the second-largest economy in the world by 2050.
India took 58 years to get to its first $ trillion GDP, 12 years to get to the next trillion and just five years for the third, he pointed out.
“India’s stock market capitalisation seen growing to over $40 trillion by 2050. My belief in the growth story of our matrubhumi (motherland) has never been stronger,” Mr Adani said.
While economic cycles are getting increasingly harder to predict, India’s demographic dividend is expected to drive consumption and accelerate the growth of a tax-paying society at record pace, Mr Adani said while addressing shareholders at the annual general meeting of Adani Enterprises Ltd.
Despite global challenges like the climate emergency, geopolitical challenges, supply chain issues, energy volatility, and persistent inflation, Mr Adani said he believes in India’s future.
“The world is continuing to be hit by multiple shocks. I see potential for a massive reset in existing global operating models,” he said.
He based his prediction on a stable government, coupled with Indian demographics and strong internal demand, which he said were “a potent combination”
“A stable government is critical for any economy to implement policy, and lay the foundation for growth. We have seen the impact of several structural reforms, critical for strong, sustainable, balanced growth,” Mr Adani said.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
