Fuelling Adani Ports Maritime Ambitions

How Karan Adani is taking APSEZ global through acquisitions and partnerships.

- P.B. Jayakumar

FOR KARAN ADANI, MD, Adani Ports & SEZ (APSEZ), FY24 was a watershed moment for India’s largest ports company and the country’s’s maritime history. APSEZ’s revenues increased a record 28%, net profit rose 50% and cargo movement recorded a 24% growth, the highest ever, during the fiscal. Internationalisation efforts gained momentum with a string of acquisitions and operationalisation of the first phase of India’s first deep-sea transshipment hub at Vizhinjam near Thiruvananthapuram.

Karan Adani, who began his career with the Adani Group in 2009 at Mundra port and took over as CEO of APSEZ in 2016, was made MD in January this year. But the 36-year-old and eldest son of Adani Group chairman Gautam Adani has an ambition: To make APSEZ the largest port operator in the world by 2030, carbon neutral by 2025 and net-zero by 2040. “Aspiration is a promise we make to ourselves. Under our chairman’s leadership, we will continue to aim for the stars — and achieve them,” says Karan.

The plan to achieve the goals consists of two key components — aligning with the group’s capabilities and robust port infrastructure plays in India’s economic growth. The second is focusing on global expansion through strategic acquisitions and partnerships. “The government has set a target of $1 trillion in merchandise exports by 2030 and to reduce logistics cost-toGDP ratio from the current 14% to 8%. Our goal is a responsibility we are honoured to take on,” says Karan.