Adani announces $100 billion capex push, says scale 'unprecedented' for India's private sector
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Adani Group Chairman Gautam Adani on Friday announced that the conglomerate is preparing for a capital expenditure of nearly $100 billion over the next five years — a commitment he described as 'unprecedented in India's private sector history.'Speaking at the 5th Annual Conference of the Society for Minimally Invasive Spine Surgery – Asia Pacific (SMISS-AP), Adani said, 'It is with this conviction that we are preparing for our capital expenditures investment of nearly $100 billion over the next five years.''The scale and pace of this investment and its commitment [is] unprecedented in India's private sector history. As we do our part for strengthening the very spine of India's rise, a spine that must be unbreakable, a spine that must carry 1.4 billion dreams, a spine that tells the world that India's rise is inevitable,' he added.In a deeply personal and metaphor-rich address, Adani spoke of resilience, entrepreneurship, and India's transformation since the 1991 liberalisation reforms.'Leadership is about restoring resilience,' he said, adding, 'Today, this shared metaphor will remind us both: the spine is both — a miracle and a corporate necessity.'Reflecting on his early days, Adani shared, 'With no degree, no job and no backup, except burning desire to define my own path, I had nothing else.''The money that I first made 'never mattered' but the moment did,' he said, underlining the importance of self-belief over material gain. 'Entrepreneurship begins with a spark and with conviction.'He also offered a poetic take on ambition, stating, 'Dreams aren't those we get when we sleep, but those that take our sleep away.'Recalling the pivotal moment of India's economic liberalisation, Adani said, 'In 1991, we faced a dark period in India's history — with just ten days of foreign reserves left. But with the then leadership, PV Narsimha Rao and Dr Manmohan Singh, India opened doors to privatisation.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
3 hours ago
- Time of India
Nibe Limited signs agreement with with Israel's Elbit Systems; to manufacture Advanced Universal Rocket Launcher
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Private defence manufacturing comapany NIBE Limited signed a Technology Collaboration Agreement with Elbit Systems , a Israeli defence company for Advanced Universal Rocket Launcher partnership is aimed at manufacturing and supply of Universal Rocket Launcher ( SURYA ), which is a highly advanced defence system capable of engaging targets with precision over a range of up to 300 technology transfer will be the first time that such a sophisticated system will be produced in India, paving the way for both domestic and international markets, ANI reported"The Universal Rocket Launcher is set to revolutionise modern warfare with its remarkable capabilities and performance, positioning NIBE Limited as a key player in the global defense sector ," the company said in a release. Elbit Land Systems , a division of Elbit Systems Ltd. , is a global leader in the design, development, and integration of advanced land-based defense solutions. The company specialises in a wide range of platforms and technologies, including armored vehicles, artillery systems, unmanned ground vehicles, and combat vehicle modernisation and is known for its innovation, reliability, and battlefield-proven systems.
Time of India
8 hours ago
- Time of India
US becomes largest buyer of Taiwan-made machinery in 2024, surpassing China for first time
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The United States has, for the first time, overtaken China and Hong Kong in 2024 to become the largest buyer of Taiwan-made machinery , signalling a notable shift in regional trade patterns influenced by geopolitical tensions , industrial strategies, and shifting supply chains, Focus Taiwan to Taiwan's Ministry of Finance (MOF), outbound sales of Taiwan's machinery to the US reached USD 5.8 billion in 2024, an increase of 6.1 per cent compared to 2023. This figure represents 24.2 per cent of Taiwan's total machinery exports. In contrast, exports to China and Hong Kong slipped by 1.5 per cent year-on-year to USD 5.7 billion, accounting for 23.7 per cent of the total, Focus Taiwan 2019 and 2024, Taiwan's machinery exports to the US surged 24.5 per cent, while shipments to China and Hong Kong declined 16.8 per cent, according to the MOF 2019, China and Hong Kong together made up 29.3 per cent of Taiwan's machinery exports, while the US held a 19.9 per cent share. The reversal reflects deeper changes in global industrial supply chains Focus Taiwan reported that Taiwan's declining machinery sales to China are partly due to Beijing's deliberate investment in domestic machinery manufacturing to reduce dependence on foreign equipment. Simultaneously, growing trade friction between the US and China, along with the push for localised production under the " Made in the USA " policy, has made the American market increasingly attractive to Taiwanese firms in recent the gains in the US, total machinery exports from Taiwan fell to a three-year low of USD 24.1 billion in 2024, down 0.4 per cent from 2023 and 15.5 per cent from the 2022 record high of USD 28.6 billion, Focus Taiwan remained Taiwan's fourth-largest export category in 2024, but its share of total exports declined to a historic low of 5.1 per cent, from 5.6 per cent the year before. Although exports rebounded 4.3 per cent in early 2025, MOF warned that global uncertainty and US-China tensions could disrupt future growth, Focus Taiwan reported.
Time of India
9 hours ago
- Time of India
India should take a cue from Vietnam, Japan and insist written statement before announcing US trade deal: GTRI
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Referring to purported differences in understanding of US trade agreements and their clauses with Vietnam and Japan , think tank Global Trade Research Initiative GTRI ) suggested that India tread carefully as it negotiates its trade agreement with the in a report released on Sunday, called for India to take a cue from the experiences of countries like Vietnam and Japan and insisted that India should ask for a jointly issued, written statement before acknowledging any appears to be a contradiction in the understanding of the recently agreed-upon trade deals between the US and Vietnam, as well as the US and a Japanese government document released on July 25, GTRI asserted that it revealed significant discrepancies between Japan's understanding of a new trade deal with the US and how President Donald Trump had portrayed it."To avoid similar misrepresentation, India must insist on a jointly issued, written statement before acknowledging any agreement," GTRI claimed on July 22 that the agreement secures massive Japanese investments, strong tariff protections, and guaranteed access for U.S. farm exports, including rice. However, Japan's official summary, published by its Cabinet Secretariat, describes a far more limited framework, still under negotiation and lacking binding commitments, according to GTRI stated that Japan would invest USD 550 billion in the U.S., with 90 per cent of the profits remaining in America. But Japan's version tells a different story. It says the USD 550 billion includes a mix of equity, loans, and guarantees from state-backed institutions, not a lump-sum announced that Japan would significantly open its markets to US agricultural exports, including according to a Japanese government document cited by GTRI, this limitation is restricted to procurement under its existing Minimum Access (MA) scheme, and only applies "depending on domestic demand and supply conditions."In effect, Japan reserves the right not to import US rice if there is no market area of divergence is found in automotive exports, as noted by claimed Japan would remove additional safety testing for US-made document, according to GTRI, confirms that it will allow imports of American cars without additional testing, provided they meet Japanese road safety standards."In other words, this is not a blanket exemption; US manufacturers must still comply with Japanese technical norms," GTRI inferred.
