New Delhi, March 23
At a time when many global economies are struggling, Kumar Mangalam Birla, Chairman of Aditya Birla Group, believes India is on a strong path to becoming a developed nation by 2047.
Birla said the country is growing at a steady rate of 6-7 per cent annually, which is a remarkable achievement.
"India is in a phase where the world acknowledges its rise," Birla said while speaking at a media event emphasising that he is not just hopeful about India's future but is also confident.
"The policy stability, infrastructure development, and a favourable business environment are key factors driving long-term growth," the chairman stated.
On global risks, including the possibility of US tariffs returning under a second Trump presidency, Birla remained calm.
He pointed out that the group's US operations mainly serve local markets, which makes them less dependent on imports or exports between India and the US.
"Fortunately, our US operations primarily serve local markets. We do not heavily rely on imports or exports from India to the US, so we remain relatively insulated from such risks," he said.
Birla also spoke about the Aditya Birla Group's expansion into new industries such as paints, jewellery, and cosmetics.
He said the company carefully chooses sectors where it has a strong chance of success. For example, in the paints business, the group used its existing white cement distribution network to gain an advantage.
"We focus on scale and market leadership. We enter sectors where we have a 'right to win'. For example, in the paints business, we leveraged our existing white cement distribution network. Our strategy involves meticulous planning, execution, and leveraging group synergies," the business tycoon further mentioned.
The chairman also shared insights about his children's journey before they joined the family business.
He and his wife encouraged them to explore their passions, whether in professional cricket or music.
He believes that gaining experiences outside of business is essential for the next generation to develop their own identity before stepping into leadership roles.
- IANS