India to transform into a US$30 trillion economy by 2050: Gautam Adani

By 2050, India’s demographic dividend will result in India turning into a US$28-30 trillion-dollar economy, according to Gautam Adani, Founder and the Chairperson of the Adani Group. Adani is positive that India is uniquely positioned to obtain an advantage from the four major trajectories – demographic dividend, growth of the middle class, push from the accelerated digital economy and the sustainability-focused economy – which will boost the country’s development progress.

The Adani Group also has plans of investing around US$20 billion into clean energy, component manufacturing,  transmission and distribution in the next 10 years. With solar power growing enormously, the price of solar power panels has fallen by 90% and it will continue to reduce in the coming years. Taking into account the marginal cost, Adani also mentioned that the marginal cost of solar power is projected to reach ‘zero’. This will also enable the ‘zero’ cost electron to economically split a water molecule and create 100% green hydrogen in the future.

Over the next four years, the Group has projected to increase its renewable energy production by 63% from the current 21%. Their aim is to power all the major data centres with renewable energy and enable zero net carbon emissions by 2025. Currently, the group has approximately 4,920 MW of operational capacity, additional 5,124MW is under execution. 

Adani also mentioned that in 2050, the median age of India’s 1.6 billion population will be just 38 years. With India being at the cusp of decades of growth, the world will soon want to tap into the potential it has to offer.  While there are also other challenges to address including the healthcare sector, education, skill development in India, contribution to the manufacturing capacity the infrastructure availability, Adani believes that building a robust digital ecosystem in India will impact the GDP growth more than was anticipated earlier.