India's growth will be driven by governance, infrastructure and green energy: Gautam Adani

“While every country has its challenges, I can confidently say that India's real growth is yet to happen. The stage is already set to create a multi-trillion dollar market. Our estimates show that India is on its way to becoming a $10 trillion economy by FY32,” the Adani Group founder chairman said at an event organised by Crisil on 'Infrastructure – The Catalytic Platform for India's Future'.

Adani said India is on track to achieve its target of becoming a USD 10 trillion economy by FY 2031-32

He said India's energy sector will play a key role in infrastructure development and about a quarter of the total infrastructure spending in the coming years will be used in the energy sector and energy transition.

“Total spending on infrastructure will exceed $2.5 trillion. About 25 per cent of this total spending is expected to be spent on energy and energy transition,” Adani said.

He highlighted that green electrons will emerge as the key driver of India's economic growth.

Green electrons produce electricity from non-emitting sources, mainly wind and solar energy. They pass through wires to reach the end user and can be stored in batteries for future use. He said Adani Group will produce the cheapest green electrons in the world to sustain the growth of many sectors.

“The availability of green electrons will be the primary driver of any country’s economic progress, and in my opinion the green electrons market has no limits to growth right now. We will produce the world’s least expensive green electrons that will become the feedstock for many sectors that must meet sustainability mandates,” Adani said.

The industrialist compared India's growth after liberalisation and said governance is the most important catalyst for growth of the infrastructure sector after 2014.

“If the period between 1991 and 2014 was about laying foundations and building runways, the period between 2014 and 2024 is about making planes take off. The most important catalyst enabling this take-off has been the quality of governance over the last decade,” he said.