‘You either grow or you go down’: Kumar Mangalam Birla plans up to $30 billion investment in India, overseas
Aditya Birla Group chairman Kumar Mangalam Birla is looking to invest as much as $30 billion across the conglomerate's businesses in India and overseas over the next two to three years, Bloomberg News reported.
The group, which generates over a third of its business overseas, is pressing ahead with its investment plans despite multiple global crises that the billionaire said have made investment decisions tougher for his metals-to-retail empire.
“You either grow or you go down; you can’t stay in a state of equilibrium,” Birla said at the Bloomberg New Economy Forum in New Delhi on Tuesday.
Speaking on the sidelines of the event, he also briefly spoke about the group’s investment plans in the United States, where it has a strong presence in the metals and chemicals sector through businesses such as Novelis, Birla Carbon, and Aditya Birla Chemicals
“We are also increasing the investment in the US,” he added.
The investment figure that Birla mentioned include a $5 billion outlay for Novelis’ greenfield aluminum recycling and rolling plant in Bay Minette, Alabama.
Businesses across the world are going through a phase of extreme volatility due to unpredictable US tariff and trade policies. The Middle East conflict and shifting demand across major economies are also adding to the challenges.
The Aditya Birla Group operates across 41 countries and reported $72 billion in revenue in the year ended March. As of June, 42% of the conglomerate's sales came from outside India.
The Mumbai-based group's businesses include metals firm Hindalco Industries Ltd., cement maker UltraTech Cement Ltd., non-bank lender Aditya Birla Capital Ltd. and retailer Aditya Birla Fashion and Retail Ltd.
It is also challenging incumbents by expanding into paints with Birla Opus, building materials via the Birla Pivot marketplace and retail jewelry with Indriya under Novel Jewels. The group also acquired Shell Plc’s renewable energy assets for $1.8 billion and launched the Ultravolt brand of electric cables.
“Because we are a global organization, when I read about a significant global event in the newspapers, I can be sure that it will impact us somewhere,” Birla was quoted as saying the the news agency.
As every big, mid and small companies across sectors are ramping up investments in artificial intelligence, Aditya Birla Group is taking a more measured approach to adopting the advancing technology.
The conglomerate will invest in AI “a little more gradually than we thought a year ago,” the billionaire told the news agency, adding that the group does not need to act out of a fear of missing out (FOMO).
Besides geopolitics, AI poses a new challenge as multiple businesses can’t follow a uniform strategy to adopt the technology, according to Birla.
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