“We finally have a majority-owned government after more than 20 years of coalitions. This has enabled our nation to start a number of structural reforms, “Adani said.
For the first time, the World Congress of Accountants is being held in Mumbai, the country’s financial hub. The International Federation of Accountants (IFAC) organised the 21st congress, which took place from November 18–21.
On Saturday, November 19, during his address to the crowd at the World Congress of Accountants 2022, Gautam Adani, Chairman of the Adani Group, stated that the fact that the event is taking place in Mumbai “recognizes India’s inevitable journey of becoming an economic superpower.”
“We’ve come together during a time of uncertainty. A leadership crisis has arisen due to the convergence of the COVID pandemic, the conflict between Russia and Ukraine, the challenge posed by climate change, the surging energy price, and the unprecedented acceleration in inflation “Speaking at the event, Adani said.
He continued, “Superpowers will need to be those that take the responsibility to step in and help in a crisis and not bully other nations into submissions in the emerging multipolar world.”
He also emphasised how coalition governments in the past proved to be a barrier to India’s economic growth and praised the initiatives taken in this direction by the government led by Prime Minister Narendra Modi.
“It is after more than two decades of our relatively short-term governments and coalitions that we have a government of the majority of its own. This has enabled our nation to start a number of structural reforms, “Adani remarked.
He emphasised the rate of expansion of the Indian economy over the past few years. Adani compared data from the previous 75 years and stated, “It took us 58 years to reach our first trillion dollars in GNP, 12 years to reach the second trillion, and just 5 years to reach the third trillion.”
“Given the pace at which the government has ben executing economic reforms, I anticipate that within the next decade India will start adding a trillion dollar to its GDP every 12 to 18 months,” the Chairman of the Adani Group added.
Additionally, he predicted that India’s economy would rise to become the second largest in the world by 2050 and the third largest by 2030.
Adani stressed the importance of entrepreneurship opportunities in driving India’s economic growth over the next three decades “India had the world’s fastest unicorn reproduction rate in 2021. India executed real-time transactions globally in 2021. It was six times bigger than the US, France, Canada, and Germany combined. All of these have laid a base for the fourth industrial revolution where humans and machines are interconnected.”
The WCOA is held once in four years-the first meeting was held in the US city of St Louis in 1904