When it comes to new acquisition, it means new ways to expand the business. And, the best example is the Adani Group, one of India’s leading conglomerates, who have expanded the businesses across the globe with various ventures and projects. Recently, the chairman and founder of the group, Mr. Gautam Adani announced its plans to invest in a private sea port in India’s eastern coast. At the group, Mr. Rajesh Adani serves as the Managing Director.
The Adani group is committed in completing the acquisition by the end of the current financial year through March. With this move, it is evident that Mr. Gautam Adani and Mr. Rajesh Adani are dedicated and proactive about business expansion.
Based in the western Indian city of Ahmedabad, the Adani Group has annual revenue of $7.5 billion. Mr. Gautam Adani established the company in 1988 and Mr. Rajesh Adani has been associated with the firm since the beginning.
The group is bullish on the ports sector because it expects the country’s merchandise traffic to grow. However, when it comes to Power sector, Mr. Adani believes that strict environmental regulations and difficulties in getting land for mining projects are among the main factors hurting growth in India’s coal production. He also states that India’s import of coal will continue to increase and the gap between demand and supply will also keep rising.