Vedanta Group, as announced by Chairman Anil Agarwal, is set to make significant investments totaling $20 billion in its diverse businesses within India over the span of the next four years. Agarwal addressed the company's stance on the steel business, expressing a willingness to continue its operation should the group not secure the desired price for its sale. Highlighting the company's comprehensive investment plan, Agarwal emphasized a particular focus on technology, electronics, and glass sectors, in addition to its existing business ventures.
Regarding the potential growth opportunities in the technology sector, Anil Agarwal stressed the importance of semi-conductors and glass manufacturing, crucial for future technological advancements, including the production of smartphone and laptop screens. Agarwal revealed that the group is already engaged in these business areas and is actively seeking a reliable partner for a semiconductor plant in Gujarat. In the domain of glass manufacturing, the group currently operates in overseas markets but looks to establish local capacity in India, signaling a strategic move towards expanding their operations in the country.
In the context of the steel business, Anil Agarwal reiterated the group's commitment to seeking the appropriate price for its sale, with the option to continue its operation if the value proposition is not met. Emphasizing the profitability of the steel segment and the dedication of its workforce, Agarwal reassured on the business's ability to sustain and progress successfully. Addressing concerns about the company's debt status, Agarwal clarified that the group's total debt stands at $12 billion, portraying it as manageable and highlighting the group's track record of fulfilling debt commitments without default.
Anil Agarwal, a prominent figure in the mining and resources industry, underscored the significance of mineral reserves for economic development, expressing his concerns over environmental considerations in India. Observing foreign investors' keen interest in the Indian market, he expressed optimism for enhanced support and encouragement for entrepreneurs post-elections. Additionally, Agarwal articulated his desire to contribute to the growth of his home state, Bihar, while advocating for robust policy support in enabling such initiatives. Looking ahead, the group contemplates potential investments in the entertainment sector as part of its diversification strategy, aligning with global corporate interests in education, healthcare, sports, and entertainment.