Keki Mistry said it was “unfortunate” what happened in the case involving the alleged sale of Iranian-origin products, adding that companies may not immediately be aware of the origin of products being supplied through complex trade networks.
Speaking to NDTV Profit, Mistry said the situation was similar to instances seen in e-commerce platforms where banned-country products may get listed unknowingly and are removed once detected.
Backing the Adani Group's long-term growth prospects, Mistry said more lenders are likely to come forward to work with the conglomerate and borrowing costs could improve going ahead.
“SEC was playing on certain minds but now that it is put to rest, borrowing costs will improve and more banks will lend to the group,” he said, adding that lower funding costs would help the group contribute in a “more meaningful manner” to India's economic growth.
He noted that the Adani Group has among the highest credit ratings in India and said the conglomerate's massive investment pipeline would continue to drive infrastructure expansion.
Mistry highlighted the group's planned investment of nearly Rs 6 lakh crore across aviation, digital infrastructure and renewable energy sectors. He said renewable energy, in particular, could emerge as a “saviour” in the current environment if scaled up rapidly.
ALSO READ: Samir Arora Bullish On Adani Stocks As Regulatory Clarity Boosts Investor Confidence
Mistry also said he does not expect crude oil prices to return to the $60-per-barrel level anytime soon, highlighting renewable energy as a key support for the Indian economy amid elevated energy prices.
He also underlined the group's growing role in India's infrastructure ecosystem. According to Mistry, the Adani Group contributes 14% of the Nifty 50's capital expenditure and accounts for around 9% of India's infrastructure GDP.
He said around 28% of India's total port cargo is handled by the group, while Mundra Port has emerged as India's largest automobile export port with shipments to nearly 100 countries.
Mistry further said the group pays nearly Rs 75,000 crore in taxes and government dues annually, and described the conglomerate as one of the biggest contributors to India's infrastructure-led growth story.
Samir Arora also believes the Adani group story will see the return of institutional comfort around owning the stocks, after the removal of regulatory concerns. Speaking to NDTV Profit, the founder of Helios Capital said many global and domestic investors had long viewed Adani companies as fundamentally attractive businesses but were reluctant to buy them because of internal governance concerns and the questions that followed the Hindenburg episode.
Watch: Keki Mistry Speaks To NDTV Profit
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