The much criticised Adani Group, one of India’s leading infrastructure conglomerates, announced a significant milestone in its financial contributions to the nation. The group revealed that it paid a staggering Rs 58,104.4 crore in taxes and other contributions to the exchequer for the fiscal year 2023-24, marking a notable increase from the Rs 46,610.2 crore paid in the previous year. This disclosure came as part of the Adani Group’s Tax Transparency Reports, released to underscore its commitment to accountability and responsible corporate governance.

Led by billionaire Gautam Adani, the group highlighted that this figure reflects its global tax obligations, encompassing direct taxes, duties, and levies borne by its portfolio of listed companies. The report detailed contributions from seven key entities: Adani Enterprises Limited, Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Energy Solutions Limited, Adani Power Limited, Adani Total Gas Limited, and Ambuja Cements Limited. Additional contributions from subsidiaries like NDTV, ACC, and Sanghi Industries were also included, showcasing the conglomerate’s expansive economic footprint.

Gautam Adani, Chairman of the Adani Group, emphasised the importance of transparency in building trust, stating, “Every rupee we contribute to our nation’s finances reflects our commitment to integrity and good governance.” The nearly 25 per cent surge in tax payments from the previous fiscal year underscores the group’s robust growth and its pivotal role in supporting India’s economic framework. The move has been seen as a strategic effort to bolster stakeholder confidence, particularly amid past scrutiny over financial practices.

Industry analysts view this as a testament to the Adani Group’s operational scale, spanning ports, power, renewable energy, and cement production. The tax contribution aligns with India’s broader economic goals, as the government seeks to bolster revenue to fund infrastructure and social programs. With this disclosure, the Adani Group positions itself as one of the country’s top contributors to the national treasury, reinforcing its narrative of resilience and economic stewardship despite earlier controversies. As the conglomerate continues to expand, its financial transparency is likely to remain a focal point for investors and policymakers alike.

Adani’s Rs 58,104.4 crore stands out as exceptional, surpassing even Reliance and Tata by a wide margin. This could stem from higher taxable profits, fewer deductions, or the inclusion of indirect taxes including duties in its reported figure, details not always mirrored in competitors’ disclosures. For context, India’s total corporate tax collection for FY 2023-24 was approximately Rs 9.6 lakh crore, per government estimates. Adani’s contribution thus accounts for about 6 per cent of that, a remarkable share for a single conglomerate.