india: India will be world’s second-largest economy by 2050: Gautam Adani


Billionaire Gautam Adani Saturday said India, which took 58 years to join the trillion-dollar club, will add an equivalent sum to its GDP every 12-18 months and be the world’s second-largest economy by 2050.

Adani, 60, speaking at the 21st World Congress of Accountants, said the foundations of India’s increasing economy might have become relevant and a majority government has given the nation the ability to initiate several structural reforms in the political and administrative system.

“Given the pace at which the government has been executing a vast multitude of simultaneous social and economic reforms, I anticipate that within the next decade, India will start adding a trillion dollars to its GDP every 12 to 18 months – thereby putting us well on track to be a $30-trillion economy by 2050 and with a stock market capitalisation that will possibly exceed $45 trillion,” he said.

India is currently the world’s fifth-largest economy with a gross domestic product (GPD) of $3.5 trillion. In comparison, the US is a $23-trillion ecomomy.
“A country, crushed and drained by its colonial rulers, today stands on the cusp of an extraordinary growth and is the only major country on a path to emerge as a high-income nation without compromising its democracy and diversity,” Adani said, adding that he sees India’s median age at just 38 years in 2050, population of 1.6 billion with a per capita income of $16,000, over 700% higher than current per capita income.

FDI will touch a trillion dollars, in signs of increasing global confidence in India.

“In 2021, India added a unicorn every nine days. It executed the largest number of real-time financial transactions globally – a staggering 48 billion. This was six times greater than the US, Canada, France, and Germany combined,” he said, adding this year VC funding will exceed $50 billion, a 50-time acceleration in eight years.

The Adani Group, which is investing $70 billion over the next decade in a new energy value chain, said India can become a net green-energy exporter by 2050.

“As both domestic companies and multinationals take advantage of India’s market size, we will need stronger mandates wherein corporates are compelled to rise to the challenge of enabling a social structure that recognises the core of our culture and is aligned with our national needs,” he said.


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