India will eradicate poverty by 2050: Gautam Adani – ET Auto
India will add about $25 trillion to its economy, $40 trillion to stock market capitalisation, and will have eradicated all forms of poverty by 2050, Adani group chairman Gautam Adani said on Thursday.
“We are approximately 10,000 days away from the year 2050. Over this period, I anticipate India will add about 25 trillion dollars to its economy. This translates to an addition of 2.5 billion dollars to our GDP every day until 2050,” Adani said speaking at the Times Network India Economic Conclave. “Over this period, I also anticipate India will add about 40 trillion dollars to its stock market capitalisation. This translates to an addition of 4 billion dollars to the market every day until 2050,” Adani said.
India’s GDP was about $3 trillion in FY22. He said no nation in the world is as uniquely well placed as India to capitalise on four major vectors – the country’s demographic dividend, growth of the middle class, accelerated digital economy and focus on climate sustainability.
“These are all trillion-dollar market opportunities and the pace of innovation that will be mainstreamed – as these four forces feed off each other – will make the next three decades the most defining years for the impact we will have on the world,” he said.
Adani said the projected inflow in 2022-23 is expected to reach a record $100 billion, making India the world’s third-largest recipient of FDI thereby showcasing the world’s confidence in India.