ANIL AGARWAL, Founder and Executive Chairman, Vedanta Resources Limited, is a multi-faceted industry leader and a nationalist. In an exclusive interview with BW Businessworld’s Suman K. Jha, Agarwal outlines his vision for the company and for India. Excerpts:
When do you plan to open the Tuticorin plant after the go-ahead by the Supreme Court and the National Green Tribunal?
Nothing can happen without copper. Copper has to be processed. In the world, about 16 (companies) make copper. We believe we make copper using one of the best technologies. After setting up the plant, we have been catering to 50 per cent to 60 per cent of the demand in the country. About 200 industries are dependent on us. Hundreds of thousands of livelihoods are dependent on this (plant). Also, the fertiliser companies are dependent on us.
We have no idea how this situation happened. The plant was shut down. We have always said we are ready for any kind of inspection. The Supreme Court has directed the NGT to get into details and give them a report. The NGT has come out with a report and said that the plant is to be reopened. They have made a suggestion for a further investment which was not necessary, but we have said that whatever suggestion they have made we will complete in due course. Meanwhile the court has said the plant is to be reopened.
I fully believe in the Supreme Court. I believe in the system in India. The government is losing thousands of crores in revenue. Thousands have lost their jobs. It’s in the interest of all that we reopen the plant as quickly as possible. At the same time we have to see that the people don’t take undue advantage of the democracy that India is.
What about the mining issue in Goa?
Between Goa mines and Tuticorin, we have got, maybe, five per cent of our total business. It’s a livelihood issue for Goa. For the last 70 years, the economy of the state was dependent on this. There were no environmental issues.
We are working with the people and the court. Very soon some resolution will be there.
Bu hikaye Businessworld dergisinin January 5, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Businessworld dergisinin January 5, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
