Gautam Adani, chairman of Adani Group, on Saturday highlighted the conglomerate’s resilience amidst challenges, declaring that “every attack makes us stronger, every obstacle becomes a stepping stone for a more resilient Adani Group.” He made the remarks at the 51st Gem & Jewellery Awards in Jaipur, amidst allegations of a bribery scheme filed in a Brooklyn court earlier this month. The event, hosted by the Gem & Jewellery Export Promotion Council (GJEPC) and attended by industry luminaries, also served as a platform to discuss strategies for overcoming challenges and driving future growth.
Addressing the controversy, Adani noted that no member of Adani Group was named in the Foreign Corrupt Practices Act (FCPA) or faced charges of conspiring to obstruct justice. “This is not the first time we have faced such challenges,” he said, adding, “After every fall, we will rise again.”
The Brooklyn court indictment alleges that Adani Group made false statements to US investors and violated federal laws to secure solar energy contracts in India. Despite the allegations, Adani struck an optimistic tone, reflecting on the group’s resilience and its ability to navigate adversity.
ALSO READ | Adani Green To Consider Reviving Dollar Bond By Mid-2025: CFO
He also took the opportunity to highlight India’s dominance in the global gem and jewellery market. “India is the jewel in the global crown of the cut and polished diamond market, holding a 26.5 per cent share. In silver jewellery, we stand at 30 per cent,” he stated. However, he cautioned against complacency, pointing out a 14 per cent decline in exports as a wake-up call for the sector.
Urging industry stakeholders to adapt to changing times, Adani underscored the importance of innovation and sustainability. “The rise of lab-grown diamonds, demand for transparency and ethical practices, and the digital wave are reshaping industries worldwide. These forces present not just challenges but a new blueprint for success,” he said.
He also called for urgent action, encouraging industry leaders to “think differently, act urgently, and innovate courageously” to seize emerging opportunities.
