Vedanta Will Not Go To Family, It Will Be Institutionalised: Anil Agarwal

Vedanta Resources Chairman Anil Agarwal on Saturday said that the company will be institutionalised at any cost and will not go to his family.

The company, he said, cannot be run on a defensive mode.

"Our company will not go to our family. Our family is also an institution, a complete institution ... If it (the family) gets capable of (running Vedanta in the future) then it is a different thing. But a company cannot be a run on a defensive mode," he said.

He was speaking during a webinar on 'Vedanta of Business' organised by the FICCI Ladies Organisation (FLO), the women business wing of the apex body FICCI.

"We are the largest producer of oil in India, largest producer of silver, zinc...we will at any cost institutionalise it (Vedanta). In my opinion 75 per cent must go back to the society....25 per cent is more than enough for the family," the metals and mining magnate said further.

India is a land of entrepreneurship with the advantage of location, young talent, natural resources and sea on three sides, the mining baron said, adding that the country is moving towards a self-reliant economy.

But the world always looked at India as a market and never wanted to see it grow. But presently the process of self-reliance has grown and youth and start ups with new ideas are taking the country to newer heights, he said.

India has the largest deposit of oil, gold and minerals, he said adding that it is high time to explore them and especially the young and the women entrepreneur has to do it.

Worldwide, an average of 44 per cent women are entrepreneurs and head various companies. In India, it is still about 20 per cent. It is time for women to come up as they are convincing and they deliver, Agarwal said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor