Vedanta’s five growth engines could each be worth $100 Billion: Chairman

THEBUSINESSBYTES BUREAU

MUMBAI, JUNE 17, 2026

Betting big on India’s resource, energy and manufacturing future, Vedanta Group Chairman Anil Agarwal has unveiled an ambitious vision to transform Vedanta into a cluster of globally competitive businesses, each with the potential to achieve a valuation of $100 billion, as the conglomerate prepares to unlock value through the demerger of its key verticals.

Addressing investors at the National Stock Exchange (NSE), Agarwal said Vedanta’s journey from a modest scrap trading business to one of India’s largest natural resources conglomerates reflects the immense opportunities available to Indian entrepreneurs and the country’s growing economic strength.

 “In the times to come, the intrinsic value of these five companies will reach $100 billion for each company. That's what I believe. Each company has tremendous potential,” Agarwal said, expressing confidence that the group's proposed demerger would create significant value for shareholders and investors.

The billionaire entrepreneur traced his own journey from Patna to Mumbai, recalling how he arrived in the city as a young man with a single piece of luggage and a determination to build something significant. From those humble beginnings, Vedanta expanded into a global resources giant, raising over $35 billion internationally and investing extensively in India through acquisitions such as BALCO, Hindustan Zinc, Cairn Energy and Sesa Goa.

“Today, our banyan tree has grown. Our five banyan trees are ready. We have to make them independent. And soon all of them will become strong Vedanta companies,” he said.

Agarwal credited the governments of Rajasthan, Odisha, Chhattisgarh, Karnataka, Goa and Assam, along with shareholders and investors, for supporting Vedanta’s growth journey. He noted that the company has emerged as one of India’s largest employers and one of the most rewarding wealth creators for investors.

Highlighting the success of Hindustan Zinc, Agarwal said the company’s zinc production had expanded fivefold since Vedanta acquired it. He described it as a world-class enterprise with few global peers and outlined plans to significantly expand silver production, fertilizer manufacturing and critical minerals recycling.

“Hindustan Zinc, when we took over, it was producing 200,000 tonnes of zinc. We created a company five times larger. We are going to produce some of the largest quantities of silver in the world. We will be the largest producer of fertilizer. Recycling and all critical metals are going to come from Hindustan Zinc,” he said.

The Vedanta chief also underlined the group's commitment to employee wealth creation through stock ownership. “Salary should cover daily living. A family home, children’s education and wedding should be taken care of by stock ownership and wealth creation,” he remarked, emphasizing Vedanta’s employee stock ownership philosophy.

Agarwal identified aluminium as one of the most powerful growth engines for the future. Vedanta Aluminium has already expanded from an annual production capacity of one lakh tonnes to 30 lakh tonnes while maintaining one of the world’s lowest production costs. The company now plans to double capacity to 60 lakh tonnes and is building a roadmap to eventually reach 100 lakh tonnes.

According to him, India’s aluminium consumption story is only beginning. While global per capita consumption ranges between 35 kg and 40 kg and China consumes about 45 kg per person, India’s consumption remains just 3.5 kg per capita, creating enormous headroom for growth.

 “With double-digit growth in demand, India is going to become as big. So you can imagine the demand of aluminium,” he said.

Oil and gas remains another area close to Agarwal’s heart. Referring to Vedanta’s acquisition of Cairn India, he said the company now possesses substantial reserves and infrastructure across deep-water, shallow-water, shale and gas assets. Backed by policy reforms granting longer-term resource leases, Vedanta is targeting production of one million barrels of oil per day.

 “We are looking to make one million barrels of oil per day. We have everything — deep sea, shallow water, shale, gas and satellite fields. The resources are capable of supporting production of one million barrels per day,” he said.

The group is also positioning itself as a major player in India’s energy transition. Vedanta Power plans to develop 20,000 MW of power generation capacity through brownfield expansions, including investments in nuclear energy.

Steel is another strategic focus area. Agarwal noted that India’s steel demand could reach 300 million tonnes in the coming years, while current production stands at around 150 million tonnes. Vedanta intends to leverage its iron ore and coking coal resources to establish an initial 15-million-tonne steel business, with a long-term vision of producing 50 million tonnes annually.

 “Demand-supply is tremendous,” he observed, adding that the country would require significant new capacity to meet future industrial growth.

Agarwal also highlighted the increasing role of artificial intelligence across Vedanta’s operations. He said AI-led optimisation initiatives have already enhanced productivity and could increase production volumes by 25-30 per cent using existing equipment.

 “We have increased production using AI. Our youngsters are ready to unlock and increase 25–30 per cent more production volumes using existing equipment,” he said.

Reiterating Vedanta’s reputation as a dependable corporate borrower and dividend-paying company, Agarwal said the group had consistently met all financial obligations on time and generated strong returns for shareholders over the years.

 “We never defaulted. We paid every obligation on time. Whoever has so far invested in Vedanta has come out with very good returns,” he said.

As Vedanta moves ahead with its restructuring plans, Agarwal believes the demerged companies will be better positioned to pursue independent growth strategies, attract capital and create long-term value.

 “They will be independent companies. I think they will do even better independently. It is a great opportunity for all the investors and shareholders to participate and grow with us. And we will deliver. We will deliver on time,” he concluded.