Gautam Adani - Fate or Fortune

Hey Guys,

I Tarun Wordsmith is back with a interesting topic. The topic may be little political but not so controversial.

This topic I will be sharing has definitely formed an important part of Indian History. Recently Gautam Adani has become the richest Asian ever and one of eight men worth more than $100 billion. Lets discuss some facts about him and let's dig the cause and future consequences of this incident on India and on world.

Who is Gautam Adani?

Gautam Adani is one of the most successful industrialist and businessman of India, who has noticed an immense success in the last decade. He is the chairman and founder of the Adani Group, an Ahmedabad-based multinational conglomerate involved in port development and operations in India. As of 23 June 2022, with a net worth of US$100 billion according to Forbes and Bloomberg Billionaires Index, he is the richest person in India and Asia and the 5th richest person in the world.

He has been a successor of Mukesh Ambani in being the richest person of India.

Background and Career:

• As a teenager, he was a college dropout and in 1978 moved to Mumbai to work in diamond industry along with Mahendra Brothers.

• In 1988, Adani established Adani Exports, now Adani Enterprises. Originally, the company dealt in agricultural and power commodities.

• In 1994, the Government of Gujarat announced managerial outsourcing of the Mundra Port and in 1995, Adani got the contract. This came to be as turning point for him as the market was now open due to LPG Reforms.

• In 1996, Adani Power was founded by Adani. Adani Power, at this time holds thermal power plants with a capacity of 4620MW, the largest private thermal power producer of the country.

• In May 2020, Adani won the world's largest solar bid by the Solar Energy Corporation of India (SECI) worth US$6 billion, marking another major success.

• He also established "Adani Green" for the regulation of green energy in India.

• In September 2020, Adani acquired a 74% stake in Mumbai International Airport, India's second busiest after Delhi.

• In May 2022, Adani family acquired Ambuja Cements and its subsidiary ACC from Holcim Group for $10.5 billion, through an overseas special-purpose entity.

Causes of success:

Though Gautam Adani is said to be an able businessman and industrialist but still he has many allegations of having money and tenders via the political conditions. This political backing is said to be by his friend and his party. yes it is clear that here the referral goes to PM Modi and BJP Party.

He might be having the political reaches, but it has never been proven that political backing is provided to him.

These allegation have been rigid and proven due to the reason that when Montera stadium was renamed as Narendra Modi Stadium, the stand formed in the stadium were named Adani Stands and Ambani stands.

The another reason that can be mentioned for is massive success is his vision of a fixed mission of development.

On the celebration of his birthday on 24 June 2022, Adani has pledged to donate 60,000 crores for social cause.