Gautam Adani pens Davos diary, highlights India's growth potential, UPI, direct benefit transfer, AI and more

The 54th Annual Meeting of the World Economic Forum (WEF), which began in Davos on January 15, will conclude on January 19.

On the concluding day, Adani Group Chairman Gautam Adani shared a long post on LinkedIn, underscoring India's emergence on the global stage, ethical use of artificial intelligence, Unified Payments Interface (UPI), direct benefit transfer (DBT), tackling the decoupling of economies, etc.

Defining trust

Speaking on the WEF 2024 theme, Rebuilding Trust, Adani said that during his discussions with a diverse group of global political leaders, business executives, and media influencers, he observed a striking consensus, transcending geographical and ideological boundaries.

"In my view, we are up against a prolonged phase of transition that will be marked by deep uncertainty. This current environment of uncertainty will continue to create a fertile ground for the escalation and proliferation of conflicts," he wrote on LinkedIn.

He added that the situation today underscores the critical need for enhanced multilateralism and international cooperation, which can be done only through the consensus emerging from global political leadership.

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Theme of India

Elaborating on this consensus, Adani said while India is well on its way to approaching the $30 trillion GDP target by 2050, it has the potential for even higher growth, given its young workforce.

He said, "One of the discussions was around the exciting potential of India becoming the AI ‘back office’ of the world, something to watch for."

Adani noted that in the discussions, the most impactful theme that emerged was India's dramatic social transformation over the past decade, as the country is seen as filling the social leadership vacuum globally.

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On UPI and DBT

Adani in his post mentioned that corporate leaders are eager to learn about the direct benefit transfer platform, enabled by the integration of Aadhar, the national ID system programme, mobile phone access, and an astounding 500 million bank accounts.

"The Unified Payment Platform (UPI), launched by the government less than a decade ago, has expanded, with several overseas markets now accepting UPI payments.

Solar Alliance

On the Solar Alliance platform, Adani said the discussions were centred around mobilising one trillion dollars in investments for solar energy solutions by 2030, aiming to provide clean energy access to one billion people through the installation of 1,000 GW of solar energy capacity. He noted that the Solar Alliance platform started as a 16-member initiative in 2015 and it now is a 117-member force.

G20 summit

Adani called the G20 summit, where global leaders adopted the New Delhi Leaders' Declaration, the best G20 ever, citing global leaders. He said that the inclusion of the African Union as a permanent member of the G20 – initiated by India was one of the most remarkable achievements of the summit.

Ending his note, Gautam Adani pointed at 'what Rebuilding Trust should be all about' and how India's message and actions have resonated with the spirit of multilateralism and inclusiveness, perhaps like no other nation today.