Adani Group charts mega $100-bn capex
'The scale and pace of this commitment is unprecedented in India's private sector history as we do our part for strengthening the very spine of India's rise that must carry 1.4 billion dreams,' Gautam Adani remarked.
Addressing a conference of top doctors here, Gautam Adani said these investments are manifestations of the Adani Group's 'belief in the future of India' comprising energy grids, logistics arteries and the country's industrial backbone. He was addressing the 5thAnnual Conference of the Society for Minimally Invasive Spine Surgery-Asia Pacific (SMISS-AP), in Mumbai.
Gautam Adani narrated the Group's success story of building the Mundra port from a mere salt export jetty to India's largest multi-cargo port.
'Mundra is the manifestation of a belief made real. It is a reminder that when vision dares, destiny bends as it is now India's largest multi-cargo port, the world's largest private single-site thermal power plant, India's first HVDC transmission line, India's largest integrated solar and wind manufacturing hub and a cluster of vital industries that include petrochemicals, copper smelters, solar accessories and much more yet to come,' the Adani Group Chairman pointed out.
He said that after the US partner backed out of the Mundra salt export jetty at the outset, his company went ahead and built it on its own with no construction experience in the marshland. Around this time in 1995-96, Gujarat pioneered a public–private partnership policy for port development, aiming to tap private sector capabilities and the Adani Group 'dived right in.'
The Mundra Port commenced operations in October 1998 with its first berth, thereby marking India's first private port launch. A few years later, the SEZ policy was announced.
'Once again, we moved fast. While others saw barren land, we saw 40,000 acres of possibility,' Gautam Adani remarked.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
25 minutes ago
- First Post
Trump to impose 10-15% tariff on over 150 countries — but there's a catch
US President Donald Trump has said that he will impose 10-15% tariff on more than 150 countries. He also said that this bracket will not include large trading partners. read more US President Donald Trump has said that he will impose tariffs in the range of 10 to 15 per cent on more than 150 countries. However, Trump noted that this bracket will not include large trading partners of the United States. Trump told reporters on Wednesday that 'we'll have well over 150 countries that we're just going to send a notice of payment out, and the notice of payment is going to say what the tariff' rate will be. STORY CONTINUES BELOW THIS AD Trump further said that these countries will not be 'big countries and they don't do that much business'. Later in the day, Trump told Real America's Voice that the rate would 'be probably 10 or 15 per cent, we haven't decided yet' The fact that Trump is imposing lesser tariffs on smaller economies suggests that Trump has realised high tariffs are disruptive, according to Alicia Garcia Herrero, the Chief Asia Pacific Economist at Natixis. 'For much of the world —and Asia in particular, which faces among the highest levies— the rate announcement could be read as a positive, providing some certainty for smaller countries with a lower rate than initially threatened,' Herrero told Bloomberg. Herrero further said that the move also signals that 'Trump is realizing that too high tariffs are disruptive." In recent weeks, Trump has sent out letters to various countries to inform them of tariffs that they will face starting August 1. In line with the stand in April, Trump has slapped some of the highest tariffs on some of the closest US strategic and trade partners. For example, Trump has imposed Japan and South Korea with 25 per cent tariff each. Trump has so far sent letters to 22 countries that also include Malaysia (25 per cent), Bangladesh (35 per cent), Indonesia (32 per cent), and South Africa (30 per cent), among others. The United States has some of the most critical trade partnerships with these countries. STORY CONTINUES BELOW THIS AD South Korea and Japan are major supplier of cars, automobile parts, semiconductors, pharmaceuticals, and machinery to the United States; Malaysia is the second-largest supplier of chips; Bangladesh, Indonesia, and Cambodia are manufacturing hubs for apparel and accessories, and South Africa accounts for nearly half of all US platinum imports and was the largest single supplier last year, according to CNN.
Hindustan Times
2 hours ago
- Hindustan Times
Spike in imports raises trade diversion concerns
NEW DELHI: India has initiated investigations into an unusual spike in a month in imports of over a dozen products from countries including China, Malaysia, Indonesia, Bangladesh and Nepal, even as the world witnesses large-scale trade diversion because of the US tariff barriers, government officials said. The world's largest container ship, MSC IRINA, is berthed at Vizhinjam port in Thiruvananthapuram, on June 9, 2025. (AP FILE) At least 14 products are under the scanner, including different chemicals, steel tubes, various types of glasses, jute items and paperboards, said a commerce ministry official who asked not to be named. 'Industry bodies, sectoral ministries and government agencies are on high alert to report any unusual import surge due to trade diversion. Based on their inputs, the government will conduct an investigation and take remedial action immediately to protect domestic units,' he added. There has been a sharp 35% decline in Chinese exports to its biggest market, the US in May after the Trump administration announced ' Liberation Day' tariffs from April 5. Despite that China's total exports saw a positive growth, raising suspicion that some of its America-bound merchandise is now being diverted to other markets, a second official said. Prime facie, most of these merchandise originate from China and are shipped via those countries that have favourable trade relationship with India, this person added, requesting anonymity. 'For example, there is an import surge of textured tempered coated and uncoated glass from Malaysia and virgin multi-layered paperboard from Indonesia. It is suspected that some of them originated in China and entered India through Asean FTA.' The Asean-India Trade in Goods Agreement (AITIGA), signed by the then commerce minister Anand Sharma on August 13, 2009, has become a sore point between India and the 10-member block Association of Southeast Asian Nations (Asean). After finding that India-Asean trade deficit surged post AITIGA from from a mere $5 billion in 2010-11 to $43.57 billion in 2022-23, the Modi government has insisted on review of its terms, such as rules of origin (ROO). Negotiations are still on between the two parties despite nine rounds of meetings. 'Talks are progressing in a positive direction and we expect to resolve all issues by the end of this year,' a third official with direct knowledge of the matter said. The 10th round of India-Asean review talks is expected to be held in New Delhi in mid-August. The matter could be resolved by October when a final round (the 11th) of talks will take place in Malaysia, he added. While plugging loopholes in old trade agreements such as the FTA with Asean is a medium-term objective, India is also taking anti-dumping measures against any large-scale trade diversions to India, the second official said. 'The commerce ministry is providing data and information on a regular basis to line ministries to ascertain any surge in imports.' The ministry of commerce and industry plans to launch a monthly 'Global Trade Watch' soon, focusing on product-specific and country-specific trade strategy, the first official said. The monthly report will be circulated within the ministry from next month so that they will factor-in global opportunities and threats and monitor any unusual import surge in their respective domains, he said. Meanwhile, the Directorate General of Trade Remedies (DGTR), the erstwhile Directorate General of Anti-dumping and Allied Duties, has already initiated anti-dumping investigation on imports of thermoplastic polyurethane-based paint protection files, Broms OTBN, and para-tertiary butyl phenol coming from China.
&w=3840&q=100)
Business Standard
3 hours ago
- Business Standard
Only 1 in 4 US adults say Trump's policies helped them: AP-NORC poll
Only about one-quarter of US adults say that President Donald Trump's policies have helped them since he took office, according to a new poll that finds underwhelming marks for him on key issues, including the economy, immigration, government spending and health care. In fact, the Republican president fails to earn majority approval on any of the issues included in the poll from The Associated Press-NORC Centre for Public Affairs Research. He's even slipped slightly since earlier this year on immigration, which has consistently been a strength for him in his second term. And while a majority of Americans do see Trump as at least somewhat capable of getting things done following the passage of his sprawling budget bill, fewer believe he understands the problems facing people like them. Roughly half of US adults report that Trump's policies have done more to hurt them since his second term began six months ago, the survey found. About 2 in 10 say his policies have not made a difference in their lives, with about one-quarter saying his policies have "done more to help them. The vast majority of Democrats and about half of independents say Trump's policies have had a negative impact, while even many Republicans say they haven't seen positive effects. As it sits today, I don't know his policies have made much of a difference in my day-to-day life, said Landon Lindemer, a 29-year-old logistics manager from suburban Atlanta who voted for Trump three times. Lindemer said he generally approves of Trump's job performance, even if he has concerns about the massive spending in the big bill the president signed into law on July 4. I'm not sold it's really going to help," he said. Low but steady presidential approval ratings The mixed reviews on Trump's policies come as he struggles to follow through on key campaign promises, including lowering costs for working-class Americans, preserving popular social welfare programs like Medicaid, ending foreign wars and lowering government spending. Inflation rose last month to its highest level since February as Trump's sweeping tariffs push up the cost of everything from groceries and clothes to furniture and appliances. Separately, Trump's budget bill included Medicaid cuts that will lead to 11.8 million more Americans becoming uninsured and add USD 3.3 trillion to the national debt, the Congressional Budget Office estimated. At the same time, violent conflicts still rage in Israel and Ukraine. Overall, the new poll finds that about 4 in 10 US adults approve of Trump's job performance, a figure that's in line with his June approval but historically weak compared with recent presidents. Closer to half of US adults approved of President Joe Biden and President Barack Obama at roughly the same point in their Democratic presidencies, according to polls from AP-NORC and Gallup, although Biden's approval rating declined in the second half of his first year and remained low for the rest of his time in office. Poll respondent Bailey Neill, a 42-year-old attorney from San Antonio, said he was terrified of Trump. Neill, a Democrat who describes himself as a student of history, cast Trump as an authoritarian who has followed the controversial playbook outlined in Project 2025, a conservative blueprint for transformative changes across the federal government that Trump tried to distance himself from before the November election. In terms of my day-to-day life, I really haven't seen a change, except for the general fear and anxiety I feel at a core level, Neill said. Most disapprove of Trump's handling of immigration, economy and more Trump earned less than 50 per cent approval on every issue included in the new AP-NORC poll, including the economy, government spending, trade, taxes, immigration, health care and his handling of the conflict in the Middle East. Only 43 per cent of US adults said they approved of his handling of immigration, down slightly from the 49 per cent who supported his work on the issue back in March. Trump also appears to have lost some support for his spending decisions. About 4 in 10 Americans approve of Trump's handling of government spending, down from 46 per cent in March. On the economy overall, roughly 4 in 10 adults approve of Trump's performance, which hasn't changed measurably in the last few months. Timothy Dwyer, of Dyersburg, Tennessee, a 26-year-old self-described independent who works in retail sales and leans Republican, said Trump's work on the economy, especially his tariffs, has really sucked. He's turned us into a toilet and has absolutely made us the laughing stock of the world, Dwyer said of Trump's trade policies, while also lamenting the president's work on reducing grocery prices and health care. Most view Trump as effective, but fewer think he understands their needs Despite such criticism, most US adults think Trump is at least somewhat effective. About 6 in 10 say capable of getting things done describes Trump at least somewhat well. And about half of US adults say the same about the phrases good negotiator or capable of handling a crisis." That doesn't mean they believe Trump can see things from their perspective. Most Americans, 56 per cent, say understands the problems facing people like you is a phrase that describes Trump not very well or not well at all. His numbers on the question are relatively weak even among those in his party: Just about half of Republicans say he understands the problems facing people like them extremely or very well. I think he's doing quite well. He could be doing a hell of a lot worse, said poll respondent Levi Fischer, of Marshalltown, Iowa, who voted for Trump three times. Still, Fischer acknowledged that he hasn't seen the economy improve as quickly as he hoped. Trump's policies, he said, don't make much difference in my life.
