Sachs hails Adani Group's role in India's infra growth

Varanasi Renowned economist Professor Jeffrey D. Sachs on Monday acknowledged the contribution of the Adani Group and the Adani Foundation towards sustainable development in India and across the world, highlighting their role in infrastructure expansion and social welfare initiatives. Sachs, Director of the Center for Sustainable Development at Columbia University and President of the United Nations Sustainable Development Solutions Network, described the Adani Group as a significant contributor to India's infrastructure-led growth and economic progress. Speaking during his opening remarks at the World Symposium on "Ancient Wisdom for Modern Challenges", Sachs identified the group as one of the major drivers of change and development in India, particularly through its role in expanding the country's infrastructure. The economist also highlighted the responsibilities that come with carrying a family name in business. Referring to family-led enterprises such as the Adani Group, he observed that businesses represent more than commercial interests, as they also carry family values, heritage and responsibilities towards society. Sachs emphasised that companies must consider their contributions to the communities in which they operate. He discussed the challenges of integrating social responsibility into publicly listed businesses, citing the experience of former Unilever CEO Paul Polman. Despite Polman's efforts to position Unilever as a socially responsible enterprise, he encountered resistance from shareholders, investors and analysts who prioritised financial returns. Sachs also raised concerns about businesses pursuing opportunities in artificial intelligence without adequately considering associated risks, highlighting the need to balance technological advancement with responsibility.