At a time when many parts of the world appear to be engulfed in pessimism, Indian billionaire?Kumar Mangalam Birla has applauded the country's economy and believes that?India is moving forward with optimism. Praising India's economy,?the chairman of the Aditya Birla Group also referred to the viral meme 'just looking like a wow'.
The sense that the nation is changing is evident. Billionaire Birla stated in his annual letter on Monday that "anticipation, pride, and optimism are abound in India."?This expectation is supported by the nation's accelerated growth trajectory, for which the government deserves praise, he stated. In the past two to three years, India's economy has grown at one of the fastest rates among developing nations.
When discussing the robustness of the Indian economy, Birla cited a number of significant achievements, such as the all-time high in air travel and the 300 million domestic traveler forecast for 2023.
“The viral meme?‘just looking like a wow’?echoes the vibrant energy of the Indian economy and captures the unparalleled nature of this moment,” he said, adding that maybe it is time to imagine an index which captures the collective confidence of a nation, calling it the ‘national confidence index’.
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The Aditya Birla group’s diverse set of businesses vary from manufacturing to consumer-oriented, including listed companies such as Hindalco Industries, Grasim Industries, UltraTech Cement, Vodafone Idea, Aditya Birla Capital, Aditya Birla Fashion and Retail and Birla Carbon.
Kumar Birla said that there have been several milestones for the Aditya Birla group in 2023, including a 40% year-on-year rise in the market capitalisation to around $90 billion.
“…our scale manufacturing businesses consolidated their leadership positions, and our consumer businesses are on the brink of transformational growth,” he said. The launch of two new, large businesses in 2024 will also help in constructing a growth platform with strength and scope, he said.
Aditya Birla group's chairman Kumar Mangalam Birla's net worth currently stands at $19.7 billion (as per Forbes), making him India's 9th richest person.??Birla is a CA (chartered accountant) by qualification and had graduated from London Business School. The billionaire inherited the family empire at the age of 28 when his father Aditya Birla passed away in 1995.
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