Why is Anil Agarwal not giving his business to his family but the society? | How is he doing it?

Alan Joseph Alan Joseph
Jun 29, 2021 3 min read
Why is Anil Agarwal not giving his business to his family but the society? | How is he doing it?

Vedanta Resources is a global diversified company that is involved in mining. It has its headquarters located in London, England and is the largest mining company in India. The company was founded by Anil Agarwal who is the current Chairman of the company.

He has a net worth of USD 3.5 billion and is among the 24th richest men in India. He had recently announced that the company will be institutionalized and won’t be giving his business to his family. In this article let’s look at the further details about it.

Anil Agarwal – Latest News
Reason Why Anil Agarwal is not giving his Business to his Family
How is Anil Agarwal doing it?
Anil Agarwal on India
Anil Agarwal on Women Entrepreneurship in India
FAQ

Anil Agarwal – Latest News

The Chairman of Vedanta Resources, Anil Agarwal has conveyed on 26 June 2021 that the company will be institutionalized no matter what and it will not go to his family. He added that the company cannot be run in a defensive mode.

The family itself is an institution according to him and he conveyed that in the future if the family is capable enough to run the company then it is a different thing. It was conveyed during a webinar on Vedanta of Business that was organized by the FICCI Ladies Organization which is a women business wing of the apex body of FICCI.

Reason Why Anil Agarwal is not giving his Business to his Family

One of the major reasons the NRI Anil Agarwal and his family has stated is aiming to give back to the society from where he has got it all. He and his family have decided to give away 75 % of their wealth for the good of the society.

Anil Agarwal has stated that it is important to give back what we earn for the greater good of the society and community programmes that work towards the eradication of poverty, child welfare and women empowerment.

Vedanta Revenue from Operations
Vedanta Revenue from Operations

How is Anil Agarwal doing it?

Anil Agarwal has stated that he would provide 75 % to the society and the rest 25% would be given to his family. He also stated that the 25% will be enough for the family. The pledge of 75 % is estimated to be around USD 2.6 billion which is about INR 15.900 crores.

He stated that the company is the largest producer of oil in India and the largest producer of zinc and silver. He added that he would institutionalize the company at any cost.

Anil Agarwal on India

Anil Agarwal while speaking about India conveyed that India is a land of entrepreneurship with the advantage of location, young talent, natural resources, and sea on all the three sides. He also added that the country is moving towards an economy that is self reliant.

He added that the world never wanted India to grow and always looked at it as a market. But at present, the process of being self-reliant has grown over time and the youth of the country have come up with various startups and ideas and are taking the country to greater heights.

Anil Agarwal on Women Entrepreneurship in India

Speaking of women entrepreneurship in the country he added that India has the largest deposit of gold, oil and minerals and stated that it is high time that we explore them and added that the young and women entrepreneurs are supposed to do it.

Worldwide around 44% of the women are entrepreneurs and in India, it is just 20% of the women are into entrepreneurship. It is considered as the time for the women to come up as they can deliver as well as convince people.

Conclusion

India will have to eradicate poverty and create more jobs, which all the countries have done by exploring their natural resources and the current policy of India is expected to bring in a lot more investments because there are opportunities in the country and the government has created a likely environment.

FAQ

What is the net worth of Anil Agarwal?

The Net worth of Anil Agarwal is 430 crores USD.

What is the revenue of Vedanta?

The revenue of Vedanta is β‚Ή183,622.00 crore (US$26 billion). Its operations span across India, South Africa, Namibia, Ireland, and Australia.

Is Vedanta an Indian company?

Vedanta Limited is the Indian subsidiary of London listed Vedanta Resources Plc and Its operations span across India, South Africa, Namibia, Ireland, and Australia.

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