Amidst Rahul Criticism, Adani Praises Congress Liberalisation Policy

Adani's candid acknowledgment of Congress' liberalisation policies, tracing his journey from adversity to success amidst criticism. Witness the impact of economic reforms on Adani Group's growth and India's rise as a global economic powerhouse.

Amir Haque
New Update

In a turn of events dubbed surprising by many, Gautam Adani, the chairman of the Adani Group, facing repeated barbs by Rahul Gandhi over Hindenburg report, recently made a remarkable speech at an event in Mumbai, openly acknowledging the role of the Congress party in his company's success. Adani's speech shed light on the pivotal role played by former Prime Ministers Rajiv Gandhi and PV Narasimha Rao, as well as former Finance Minister Manmohan Singh, in liberalising India's economy and fostering an environment conducive to business growth.


Acknowledging Congress' Role: Adani's Surprising Revelation

Adani reminisced about the early days of his entrepreneurial journey, recalling how the liberalisation policies initiated by Rajiv Gandhi provided him with the opportunity to establish his trading organisation at the age of 23. He emphasised that the liberalisation measures of the 1980s and 1990s laid the foundation for his company's growth and success.


Navigating Economic Turmoil: Narasimha Rao and Manmohan Singh's Bold Policies

The Adani Group chairman highlighted the significant foreign exchange crisis faced by India in the early 1990s, during which the country's foreign reserves dwindled to less than 10 days' worth. It was during this crisis that Narasimha Rao's government, with Manmohan Singh as the finance minister, announced bold liberalisation policies that helped India navigate through the economic turmoil.


The Transformative Impact: India's Journey to the Fifth-Largest Economy

Adani's speech underscored the transformative impact of the economic reforms of the past three decades, which have propelled India to become the world's fifth-largest economy. He expressed optimism about India's future, predicting that the upcoming decades would witness even more transformative and disruptive changes, with India emerging as a global powerhouse.


Accelerating Growth: India's Trillion-Dollar GDP Milestones

Furthermore, Adani highlighted India's remarkable economic growth trajectory, noting that while it took the country 58 years to achieve its first trillion-dollar GDP milestone, it only took five years to reach the second trillion-dollar mark. He expressed confidence that India would continue to accelerate its economic growth, adding $1 trillion to its GDP every 18 months in the coming decade.


Towards Global Leadership: Adani's Call for Continued Reform

Adani's speech serves as a testament to the importance of economic reforms in driving India's growth and development. It also underscores the significance of bipartisan support for policies that foster economic liberalisation and entrepreneurship. As India embarks on its journey towards becoming a global economic leader, Adani's words serve as a reminder of the transformative potential of visionary leadership and bold policy decisions.






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