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 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 mining magnate said further.

India is a lof entrepreneurship with the advantage of location, young talent, natural resources 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 never wanted to see it grow. But presently the process of self-reliance has grown youth start ups with new ideas are taking the country to newer heights, he said.

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

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

(Only the headline 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.)

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