Adani's $100 billion business plan for next decade

Billionaire Gautam Adani, who has now slipped to the third position on the Bloomberg Billionaires Index said his group would invest $100 billion over the next decade, primarily in energy transition and digital opportunities, as well as sectors such as aerospace and defence, metals and petrochemicals.

Adani has been aggressively expanding into new sectors, with his latest foray into the cement sector through a $6.5 billion acquisition of Ambuja Cements Ltd and ACC Ltd, instantly making the group the second-largest cement maker in the country.

It is our commitment to investing $70 billion in an integrated hydrogen-based value chain," Adani said at The Forbes Global CEO Conference 2022 in Singapore.

Adani added that India is set to witness multi-decade growth tailwinds, making it a relatively bright spot in the global economy amid the current turbulent environment.

The group also announced entry into the alumina and iron business with an investment of up to ₹57,575 crore. Starting as a commodities trading company in the late 1980s, the Adani group has, over the years, added ports, airports, power, renewable energy, gas distribution and data centre business to its portfolio.