Eminent industrialist and founder and chairman of Adani Group, Gautam Adani addressed a gathering of thousands of entrepreneurs and investors on the occasion of TIE 2021.
New Delhi: Eminent industrialist and founder and chairman of Adani Group, Gautam Adani addressed a gathering of thousands of entrepreneurs and investors on the occasion of TIE 2021.
During this address, he explained how digital and technological advancements will provide the most viable safeguards against climate disaster. Adani Group is investing ₹20 billion in green technologies over the next decade.
Let’s know what he said:
It’s good to be back in TIE 2021. I am told that the registrations have exceeded 40,000, making it
Largest TIE event ever, largest entrepreneurship conference ever and largest gathering of social enterprises ever in the world.
It is indeed the biggest platform for entrepreneurs and as a fellow entrepreneur, there is no other stage where I feel more at home.
I also see that “Start Up Nation Central” and “Government of Costa Rica” from Israel are partners
in this summit. Their participation is a true representation of the top two themes of the ongoing
Global conversation – sustainability and technology.
When it comes to commitment to sustainability, there is no greater country than Costa Rica – a country where 98% of its energy needs are met from renewable sources. And there is no nation bigger than Israel when it comes to technology leadership.
If ever there was a time when the world needed inspired entrepreneurs to help solve the biggest
The challenges we, as human beings, have probably ever faced, are now. I am glad to see that
This year the entire TiE Summit is devoted to the theme of sustainability.
I start by setting some context. The covid-19 pandemic demonstrated the incompetence of the world
Respond effectively to a multifaceted global crisis that calls for coordinated policy responses. This
showed how quickly system breakdowns can cascade from one region to another. it exposed
serious gaps in basic systems, including health care, education, mass transport networks, supply chains,
and financial markets.
The way we have lived and conducted our business in the last 50 years cannot continue. at least,
An epidemic like Kovid-19 can be fought with vaccines. director general of world health
Organization (WHO) summed it up nicely when they said that there is no vaccine for climate change!
The annual rate of increase in atmospheric CO2 emissions has increased nearly 100-fold since 1970. The search for a permanent solution begins with acknowledging that the current situation is not sustainable. Even more worrying is the impact of climate change on the poorest sections of the population. Studies show that the social impact of climate change is irreversible.
Therefore, we not only have to find solutions to climate change, but also to ensure that –
through science, policy and technological development – that the principles of equality are not
The solution should allow us to bridge the tradeoff between economic, social, privacy and environmental policies. The CO2 molecule released to the West is equally harmful to the East. The CO2 molecule released by the rich is equally harmful to the poor. A CO2 molecule released by those already born is harmful to those born too soon.
As an entrepreneur, I remain optimistic. It is my belief that the COVID-19 pandemic has forced us to find
Desire to kickstart large scale ESG driven economic transformation.
I also believe that the most viable climate change solutions will be digital and technology driven – backed by policies that help accelerate adoption. My optimism comes from the realization that the impact of the COVID-19 pandemic would have been far more dire if today’s digital technologies were absent. This should be a sign of opportunity before us.
I also believe that this convergence of sustainability and digitization will lead to new disruptive business models that will create the next set of unicorns. This is where outfits like ties become essential.
— They enable collaboration between entrepreneurs and investors who see opportunities anywhere
There are intersections and friction. And the only way we can reduce friction is that stability
Today’s business arises through the intersection with technology.
Now let’s talk about India. Last year when I spoke here, I said that in the next three decades
India will become a $28 trillion economy. It is now expected that by 2050 India’s per capita
Income will increase from about one-third of the United States (US) to one-third of the latter
person income. This is an astonishing increase.
Also, in 2050, the average age of 1.6 billion Indians will still be only 38 years. The world will never again see a middle class as large as one India will have – and that too in such an age of extreme consumption.
Furthermore, digital acceleration in India is just beginning and will create a tailwind that is not yet included in the projected 8% nominal growth rate. I basically believe that the Indian economy is yet to reach its decade of double digit growth. So, now I think I may have lowered my 2050 GDP estimate to $28 trillion.
Also, given the huge increase in end consumption rates, I expect India to become the world’s top
The target destination for large volumes of FDI in this period, further strengthening the tailwind.
While we all know that growth models are projections, it is my firm belief that opportunities in India
This further makes it the most exciting investment destination on the planet – especially
Technologies that enable sustainability. This country should be an entrepreneur’s dream country.
Let me further discuss the specific opportunities around sustainability and drill down where I see
The greatest possibility of the near future. At the upcoming COP 26 summit in Glasgow in November,
The most powerful countries will lay the foundation for a series of global policy changes.
I believe these will be transformative and accelerate the economic opportunities arising from global efforts to combat climate change.
As technologies develop rapidly, these opportunities will amount to trillions of dollars of investment.
These will include next generation high efficiency solar panels, low carbon content
Largest offshore wind turbines affordable, mainstream carbon capture technologies, battery technologies suitable for various purposes, algorithm-driven smart and distributed grids, electric mobility,
and technologies related to hydrogen.
Of all these technologies, today solar is the fastest growing source of energy. over the past decade,
The price of solar panels has dropped by 90% and we will probably see the price in the next decade
drops of the same magnitude as panels become even more efficient and new materials arrive
Play Play. the fact that the marginal cost of solar energy is heading towards “zero” and it is both
transformative and disruptive.
However, as always, it is the “combination” or “intersection” of technologies that makes disruptive
business models. Combining what I think is a game changing model for sustainability is
of solar production and hydrogen production! It’s Fascinating That a Photon Can Travel 90 Million Miles
In 9 minutes to hit Earth with a piece of silicon. This in turn is an H2O. generates an electron to split
molecule that liberates a proton – or what we call a hydrogen atom – and is now seen as
The ultimate source of intensive green energy.
In fact, our Earth receives enough photons every hour to meet our global energy needs for an entire year.
The ability of an H2O molecule to split economically and make a 100% “zero” cost electron
Green hydrogen is a near certainty in the future. Hydrogen is the trigger for better use of other
Renewable energy by becoming a long-term transportation and distributed storage solution for electricity. this is
Key link in the energy transition journey, which will be stable with wind and solar
Decentralized power generation.
For India, decentralized power generation could be a massive game changer – especially for rural areas
population. Decentralized power allows us to improve grid flexibility and micro-size “everything”. This
Micro-manufacturing, micro-farming, micro-health care, micro-education – enables everything
That the rural population of India needs empowerment and job creation today.
While there are still many challenges to be addressed, I am confident that we are on the cusp of a hydrogen-powered revolution that can transform India, Green India and energize India. This nation-building is at its peak.
I would even go so far as to open a revolution in alternative energy technologies
There is a possibility that someday India may become a net green energy exporter! hydrogen and its
Derivatives can replace a significant amount of our crude oil, natural gas and coal imports.
Just 5 years ago it was impossible to even think about it. Such is the power of integration
The technologies that make up the most disruptive business models. It is a paradise for an entrepreneur.
A landscape of infinite possibility – global in nature – and spanning decades.
What makes it all the more exciting is the intersection of sustainable energy with progress.
in digital technologies. This technology driven energy transition will disrupt existing industries and
Create new ones at the same time. Artificial intelligence is now an indispensable universal accelerator.
We live in a world where the convergence of powerful and cheap computing and
Collecting large amounts of data is making AI a “general purpose technology”
Tremendous difference to stability.
Be it the design of distributed grids to be able to optimize the energy sources that feed the grid or to design systems that are self-healing, or to allow for microscopic size of energy – the possibilities are limitless. India, through its enormous power of supply and demand for energy, will be among the countries best positioned to profit.
While these scenarios unfold, the Adani group is not sitting still. We are tripling our solar energy
production capacity in the next four years. This is a growth rate unmatched by any currently
Any other company anywhere on the planet.
Our renewable energy portfolio has reached an initial target of 25GW four years ahead of schedule. Today, we are already the largest solar power player in the world. This puts us on track to become the world’s largest renewable energy generation company by 2030.
Also, over the next decade we will invest more than $20 billion in renewable energy generation. Our
The extent of overall organic and inorganic investment across the entire green energy value chain will be
Between 50 and 70 billion dollars.
This will include investments with potential partners for electrolyser manufacturing, backward integration to secure the supply chain for our solar and wind generation businesses, and an AI-based industrial cloud platform.
We believe that our integrated value chain, our scale and experience lead us on the path of being
The least expensive green electron producer anywhere in the world.
This advantage opens up many new avenues for us including establishing us as one of the largest green hydrogen producers in the world, opening up additional possibilities for us to be the partner of choice.
many other industrial businesses.
As I conclude, I want to leave you with a message. Some research studies indicate that the Indus
About 4,000 years ago, there was a period of climate change in the valley civilization. the result appears
to be uncertain
However, today we are aware of the effects of climate change and therefore the results cannot be uncertain. What we need is – and who better than “The Indus Entrepreneurs” to enable this will.
The TiE platform is unmatched at scale, and it should take responsibility for triggering a movement that brings together an ecosystem of entrepreneurs and investors who work together to create equitable solutions for a sustainable world.
Congratulations once again for this wonderful event and thank you for the opportunity to talk to everyone.
First published:October 4, 2021, 4:58 pm