India now stands on the “cusp of explosive growth” : Gautam Adani

Vastavam web: Chairman of USD 11-billion Adani Group Gautam Adani today said India now stands on the “cusp of explosive growth” and game-changing policies like GST, Aadhaar and Jan Dhan Yojana will lay the platform for decades of strong growth.With GDP growth rates of over 7 per cent, it is anticipated that India will become the world’s third largest economy by 2030 and second largest by 2050, he said.He said over the past few years, there has been a dramatic progress in positioning India as a nation integrated into the global economy, a nation flexing its power and building key strategic alliances and a nation that is firm yet restrained and extending a helping hand to those in need.

Adani said over the past few years, the Narendra Modi government has introduced “game changing” policies which will drive foundational changes across India.Stating that Aadhaar is a “remarkable initiative” of getting 1.3 billion people on one common identification platform is a game changer for both tax collections and direct benefits distribution, Adani said it will transform the way government manages its subsidies.Over 31 crore bank accounts opened under the Jan Dhan Yojana in just three years and has yielded a staggering Rs 73,000 crore of deposits.”The combination of these initiatives will change India in ways hard to imagine. It will unlock the bottom-of-the pyramid and lay the platform for expanding the middle class and setting off decades of strong growth,” Adani said.