India economy set to expand to $30tr: Adani

India is set to become a $30 trillion economy by 2050 — a nearly 10-fold jump from its current size — driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani.

The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months within the next decade, increasing its attraction as an investment destination, the billionaire said at a conference in Mumbai. India’s share of global GDP is likely to exceed 20 per cent by 2050, he said. The coal-to-ports billionaire reaffirmed his group’s commitment to invest $70 billion in a clean energy value chain. Economic growth will likely mean India’s energy consumption will rise by 400 per cent by 2050, and the country will undertake “an unparalleled” energy transition to cater for this demand, he said.