Adani Group shares plunge up to 20% following Gautam Adani’s bribery indictment in US
The US Attorney's Office for the Eastern District of New York unsealed a five-count criminal indictment against Gautam Adani, Sagar R Adani, and Vneet S. Jaain.
Reliance Industries Ltd (RIL) chairman Mukesh Ambani on Wednesday said a 5,000-acre Dhirubhai Ambani Green Energy Giga Complex will be commissioned in the second half of 2024 while Adani Group chairman Gautam Adani announced a mega Rs 2 lakh crore investment in Gujarat over the next five years.
Both the business magnates were addressing the Vibrant Gujarat Global Summit, earlier inaugurated by Prime Minister Narendra Modi here.
Ambani said Gujarat will be a global leader in green growth and pledges to make the state a leading exporter of green products.
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Terming Gujarat a gateway of modern India’s growth, Ambani said that when the world thinks of new India, they also think of a new Gujarat, attributing the state’s transformation to Prime Minister Narendra Modi.
Announcing the mega Rs 2 lakh crore investment in Gujarat over the next five years, the Adani Group chairman said Rs 55,000 crore of the total investment will be made by 2025.
“We are expanding the green supply chain for an Aatmanirbhar Bharat and creating the largest integrated, renewable energy ecosystem…Over the next five years, the Adani group will invest over Rs 2 Lakh Crores in Gujarat,” Adani said.
Earlier, Prime Minister Modi inaugurated the summit in the presence of several Union Ministers and a host of dignitaries from across the globe.
Speaking at the event, President of Suzuki Motors, Toshihiro Suzuki, expressed his honour at being invited to the Vibrant Gujarat Global Summit 2024 and lauded the remarkable growth of the Indian automobile market in the past decade.
Acknowledging the strong leadership and unwavering support of Prime Minister Modi, Suzuki emphasised that India has now secured its position as the third-largest automobile market globally.
He further said that Suzuki Group will invest Rs 3200 Crore in Suzuki Motor Gujarat to add a new 4th production line which can produce 2.5 Lakh units per year.
“This will increase the annual production capacity of Suzuki Motor Gujarat from the current 7.5 Lakh to 1 million units,” he added.
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