“Exploration is not Exploitation of Natural Resources”: Anil Agarwal

Anil Agarwal, Chairman of Vedanta Group is on a 3-days trip to Udaipur, which is also the head-office of Hindustan Zinc, Vedanta’s group flag-ship company and the world’s largest integrated producer of zinc-lead.

In the middle of his tight schedule, he took out time to interact with the students of IIM, Udaipur. Anil Agarwal spoke about how important is for India to have supportive exploration policy. “Exploration is not Exploitation of natural resources”, he said.

“India is a country that has tremendous quality natural resources, keep them for another 300 years and nothing would happen. These resources would still remain unutilized. What is the meaning? , said Agarwal.

Agarwal also stated that, “Country cannot depend on imports all the time and why hard earned money within the country should be spent on imports? The import bill is rising and here in India we are not developing our internal resources. Is it that India is becoming an import oriented country?”.

IIM, Udaipur Director Prof. Janat Shah spoke about IIM, Udaipur and the need for young entrepreneurs to hold the reigns of the future of India. A distinguished gathering of about 130 students and faculty members listened to Anil Agarwal whose last visit to Udaipur was about 4 years ago.

Anil Agarwal was also accompanied by Queeny Dhondy the well known name in fashion jewelry and columnist and also Chairman of Oasis Energy, Oman, Thamer Alshanfare. Anil Agarwal spoke about need for energy security in India and how much coal was important for the development. Globally, 70% energy is produced through coal and if the industry does not have sufficient coal, it is difficult to achieve energy targets. Without energy development cannot happen, he said.

Agarwal spoke about his hardships during early years where he started a Cable Industry and how with hard work, dedication and strong focus, Vedanta group has been built as one of the fastest growing natural resources company, which is now a 70 billion USD Diversified group. He emphasized on the fact that students should not forget their roots and not let down their high spirits because of the failures, instead learn from the mistakes and grow.

He motivated students by advising them to opt for the entrepreneurial proficiency for utilizing huge natural resources in India. Agarwal also told the students that it is difficult to survive without Zinc, Aluminum, Iron, Copper, Steel, Silver, Gold and Oil & Gas. Almost 100% gold comes from import and about 70% silver too. We have our mines in India but we still depend on imports. He gave example of China, Brazil, South Africa, Canada who have grown multi-fold ahead of India.

While striking a balance between renewable and non-renewable resources, he informed that Vedanta is producing 275 MW of Wind Energy which is one of the highest in the country.

During the interaction, he also mentioned that Community comes before Business. Working for the welfare of the society is always his prime concern and his efforts are always laid towards the betterment of the people. While talking about his future plans, Agarwal mentioned that taking forward his vision of Malnourishment free India, he will spent most of the wealth in community service and on the Health-Education-Nutrition and overall development of the underprivileged children.

He answered questions of students which were more in relation to his business plans and how he sees Vedanta in the next 10-20 years. Agarwal was of the view is to make India proud.

“Don’t bother what people say, be focused and keep working hard. Nobody can stop you. If there is a determination to achieve something, you will find your way” was his message for the IIM students who would be inspiring to become future entrepreneurs.

Also present were Akhilesh Joshi – CEO, HZL, and A Thiru – President HR, Vedanta, Janat Shah – Director, IIM Udaipur, H.K. Mehta – Sr. VP HR, HZL, Peeris Joseph – VP HR, HZL, Pavan Kaushik – Head-Corporate Communication and other esteemed guests during the function.