India can return to the era where it once controlled a quarter of the world economy, Karan Adani, CEO of Adani Ports and SEZ, said on Wednesday.
Speaking at Amazon Smbhav 2022, the son of Asia’s richest man, Gautam Adani, said that micro, small and medium-sized enterprises (MSMEs) in rural India and in Tier 2 or 3 Tier 3 cities need tech improvements fire in their stomachs have infrastructure to tap into the firepower that the country has for growth.
He said people used to call India “Sone ki Chiddiya” (golden bird).
“It used to control a quarter of the world’s GDP and I think we’re getting there again. Personally, I have a feeling that in my lifetime India will return to that golden age where we would control a quarter of the world economy.
“I think people, entrepreneurs and young people cannot achieve this goal if they are not part of this mission. I think we just have to believe in India, we have to believe that we can achieve it,” Adani said.
He said the country needs to unlock the potential of rural India and make small businesses stronger.
“What I personally feel is that the power of India actually resides in rural India and in Tier 2 or Tier 3 cities. I think the kind of ambition, thinking, solution orientation and the kind of firepower, I would say gut fire if I may, the entrepreneurial spirit that you find in these kids and in these cities is incredible,” Adani said .
He said technology has removed barriers that prevented access to information markets and knowledge.
In response to questions about the dynamics of decision-making between him and his father, Karan said he has very open communication with his father.
“I have to appreciate my father on that front because he’s very inquisitive. He’s actually more curious than all of us when it comes to understanding how the world is moving towards what young minds are thinking. How are they thinking? Why do they think what they are? Think? And I think we have this environment of push and pull,” he said.
Adani said that after the discussion, whatever his father decides will be implemented.
“Most importantly, as soon as we leave the room, we don’t go back and say, ‘You know, I don’t agree with that,’ ‘That wasn’t the right decision,’ or ‘I’m not going to do that.’ You know, that’s how we work,” he said.
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