Porinju Veliyath, the founder and chief executive officer of Equity Intelligence India, has come out strongly in defense of Indian industrialists like the Adani Group, calling recent investigative reports against the conglomerate "planned attacks."
Speaking to NDTV Profit, Veliyath emphasised the need for India to nurture its business leaders to continue the country's economic growth trajectory. Veliyath stressed that India cannot afford to undermine its industrialists if it aims to achieve a global average in per capita GDP.
"We should focus on per capita income alongside market capitalisation. To keep growing, we need industrialists like Ambani, Adani, Tatas, Birlas, and Narayana Murthy. Without them, our economy will be in trouble, especially given the global geopolitical situation," he said.
Highlighting the role of stable politics and strong leadership in capitalising on geopolitical advantages, Veliyath pointed to the importance of infrastructure projects, both macro and micro, which are critical for India's development. "The government can't build this infrastructure with tax revenue alone. That's why we need people like Adani and Ambani," he argued.
Veliyath dismissed the recent allegations of financial misconduct against the Adani Group as a coordinated attempt to discredit Indian businesses. "These investigative attacks are planned. There is an international deep state working against India," he said. Porinju also said that wrongdoing, if any, should be addressed domestically. "What business does the US have in this?" he asked.
Discussing global politics, Veliyath stated, "Trump means business, and most measures under his leadership will likely be positive for the world." On technology, he lauded India's adaptability, especially in artificial intelligence, which he believes will revolutionise life.
Veliyath revealed that Protean eGov Technologies Ltd., a major player in digital infrastructure, is one of his largest holdings. He also expressed confidence in India's thriving startup ecosystem and the upcoming IPO pipeline. "India's startup scene is one of the best globally. The government has been very proactive with policymaking," he noted.
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