Vedanta Limited, a subsidiary of Vedanta Resources Limited, is a prominent global natural resources’ company with a presence in India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan. It operates across a diverse range of sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate, and is also venturing into semiconductors and display glass. Over the past two decades, Vedanta has made substantial contributions to national development.
At the heart of Vedanta’s approach lies a commitment to governance and sustainable development, with a strong emphasis on health, safety and environmental considerations. The company has established a comprehensive framework to lead in ESG (environmental, social and governance) practices within the natural resources’ sector. Vedanta is dedicated to achieving net-zero carbon emissions by 2050 or earlier and has allocated USD 5 billion over the next decade to expedite this transition. Additionally, giving back to local communities is ingrained in Vedanta’s ethos as it actively strives to improve the well-being of these communities.
Sector Overview
The Indian economy has outperformed global expectations, positioning itself as a beacon of economic promise in 2023. The International Monetary Fund (IMF) predicts that India will continue to shine, potentially contributing a substantial 15 per cent to global GDP growth. This impressive growth trajectory follows an estimated 6.8 per cent expansion in FY 2023, cementing India’s status as one of the fastest-growing major economies. In FY 2024, the Indian economy is projected to maintain its upward trajectory with a growth rate of 5.9 per cent.
This story is from the October 23, 2023 edition of Dalal Street Investment Journal.
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This story is from the October 23, 2023 edition of Dalal Street Investment Journal.
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