Gautam Adani has recently overtaken Mukesh Ambani to gain access to the title of Richest Man in India which was previously held by Mukesh Ambani for many many years. The closest he came to relinquishing the title before was when Sunil Mittal had a surge of fortune in the early 2000s. This development has not gone unnoticed and the layman has realised that The Adani Group is also a serious player in the sphere dominated by Reliance, Tata, Mahindra and others.
One of the factors that put Gautam Adani apart from the other people on the rich list is that he has gone all the way to the top in the least amount of time. Others inherited thriving family businesses and took them to the next level and are what some people call "family money". Adani on the other hand, started the business himself and the growth of the company in the past 20 years has been nothing less than phenomenal.
Focussing mainly on infrastructure and power, the latest acquisition by the Adani Group was buying 72% of the second busiest airport in India, the Chhatrapati Shivaji Maharaj International Airport in Mumbai. This fits nicely with the whole business as they already own multiple ports and highway projects. The Mukesh Ambani led Reliance on the other hand is a juggernaut with business interests in every possible industry in India.
Business experts and financial gurus believe that the sudden growth of Adani is mainly due to the growth in share prices of the group's business interests and this would not be sustainable. They feel that the multi-faceted Reliance group will fare better in the long run as even if one industry collapses, the other will hold up the overall performance of the group.
There is another school of thought among these experts who believe that the industries that Adani is involved in are a clear indicator that he is here to stay for the long haul. The various ports, airports, highways and power projects are industries that are essential to the growth of a developing country like India. They also believe that the Reliance Group is involved in too many things to make them a serious monopoly in any industry.
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