New Delhi, April 2, 2025 – India’s vast natural resource wealth, driven by its superior geology, offers immense potential for the country's economic growth, mining mogul Anil Agarwal stated today. The Vedanta Group Chairman emphasized that trusting the country’s entrepreneurs to unlock the value from these resources is crucial for realizing the vision of "Viksit Bharat" (Developed India).
“There is immense wealth below the earth. India has the best geology in the world, but we remain heavily reliant on imports,” Agarwal remarked. He stressed the need for India to focus on exploring and extracting these resources to reduce dependency and boost economic growth.
India’s rich reserves in oil and gas, as well as minerals such as bauxite, coal, iron ore, copper, and rare earths, present a clear opportunity for economic growth, he added.
Agarwal also noted that 65% of India’s population is currently below the middle-class threshold, but will soon enter this economic bracket. "Demand will grow exponentially, and the opportunities for business are huge,” he added, highlighting the country’s growing consumer base as a driving force for businesses.
India has made significant strides in its economic growth, achieving a 100% increase in its GDP over the past decade, the highest among major economies. Agarwal asserted, "300-400 years ago, India had 25% of the world’s GDP. We will reclaim our position as the leading economy of the world."
This vision of an entrepreneurial-led economic future is poised to shape India's role on the global stage, as it works to leverage its natural resources and entrepreneurial spirit to secure a prosperous future.
India’s Resource Potential and Entrepreneurial Vision
Agarwal pointed out that India’s natural resources, from oil and gas to precious metals and rare earths, offer unparalleled economic opportunities. However, despite the vast potential beneath the surface, 60% of the country’s imports are comprised of these very resources, including oil, gas, gold, copper, and diamonds.“There is immense wealth below the earth. India has the best geology in the world, but we remain heavily reliant on imports,” Agarwal remarked. He stressed the need for India to focus on exploring and extracting these resources to reduce dependency and boost economic growth.
Drawing Parallels with Prosperous Nations
Agarwal drew comparisons with global economies that have harnessed their natural resources to achieve prosperity. Nations like the United States, the United Kingdom, Canada, Australia, and those in the Middle East have grown prosperous by tapping into their resource wealth. "All India needs to do is explore,” Agarwal said.India’s rich reserves in oil and gas, as well as minerals such as bauxite, coal, iron ore, copper, and rare earths, present a clear opportunity for economic growth, he added.
Entrepreneurship as a Catalyst for Growth
Despite the global uncertainties, Agarwal expressed optimism about India’s future. "This is the era of entrepreneurs, and Indians are born risk-takers," he stated. He emphasized that entrepreneurship is vital to create large-scale manufacturing industries in India, as agriculture alone cannot ensure sustainable growth or job creation.Agarwal also noted that 65% of India’s population is currently below the middle-class threshold, but will soon enter this economic bracket. "Demand will grow exponentially, and the opportunities for business are huge,” he added, highlighting the country’s growing consumer base as a driving force for businesses.
A Call for Policy Reforms
In line with fostering entrepreneurship, Agarwal urged for greater trust in the country’s entrepreneurs. He advocated for deregulation and self-certification as key steps forward. “I congratulate the government for thinking in that direction,” he remarked.India has made significant strides in its economic growth, achieving a 100% increase in its GDP over the past decade, the highest among major economies. Agarwal asserted, "300-400 years ago, India had 25% of the world’s GDP. We will reclaim our position as the leading economy of the world."
This vision of an entrepreneurial-led economic future is poised to shape India's role on the global stage, as it works to leverage its natural resources and entrepreneurial spirit to secure a prosperous future.
