China will feel isolated, opportunities will increase for India: Adani
Highlights
- World’s second largest economy threatened by technology restrictions in China
- India on track to become world’s third largest economy by 2030
- India needs to provide fuel related services to a large population
Industrialist Gautam Adani believes that China will start feeling isolated due to rising nationalism and restrictions related to supply chain and technology. He said that technology-related sanctions in China are threatening the world’s second largest economy. The founder-chairman of the Adani Group told a conference in Singapore on Tuesday that China’s ‘Belt and Road’ project is being opposed in many countries. “My guess is that China, seen as a ‘champion’ of globalization, will increasingly feel isolated,” he said. Growing nationalism, supply chain risks and technology restrictions will have an impact. But this time the return to the economy is looking more difficult.
World’s third largest economy by 2030
Adani’s remarks come at a time when his port to energy business is shifting to renewable and digital space. Adani said about India that global unrest has intensified opportunities for the country. These developments have made India one of the few best places from political, geo-strategic and market point of view. He said that India is on the way to become the world’s third largest economy by 2030 and has recently become the fifth largest economy in the world.
less than seven percent of carbon emissions
He also hit back at criticism of India’s plans to increase the amount of electricity generated from fossil fuels. He said that India needs to provide fuel related services to a large population. So it will not work for India. Adani said that India, which has 16 percent of the world’s population, accounts for less than seven percent of its carbon emissions and this figure is continuously decreasing. “The democracy whose time has come cannot be stopped and India’s time has come,” he said.
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