Gautam Adani travelled between Mumbai and Ahmedabad at the age of 21. He slept on the train floor because he had no seat. Today, this ordinary young man rules a massive business empire worth over Rs 10.45 lakh crore.
Gautam Adani stepped on foreign soil for the first time on June 21, 1983. He visited South Korea and kissed the ground immediately after landing. His co-passengers felt surprised. This foreign trip launched his massive business dreams. Then 21-year-old youth now holds a net worth of $109 billion, which equals Rs 10.45 lakh crore.
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New Idea From Plastic Packaging
The Adani family ran a plastic packaging business in the 1980s. Gautam Adani noticed a fixed market price for packaging products. He also saw constant changes in raw material prices. He realized local suppliers would not bring big profits. He shifted his focus to foreign markets.
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Business Lessons On A Train Floor
Gautam Adani met big Mumbai plastic traders Shah and Jatin Kotecha. They imported goods in massive 2,000-ton lots. Author RN Bhaskar mentions an interesting fact in his book Gautam Adani: Reimagining Business in India and the World. Adani bought a second-class ticket for his Mumbai-Ahmedabad trips. He went to the first-class compartment to learn global trading rules from these traders. He slept on the floor of that bogie during these chats.
Gautam Adani connected with a big South Korean plastic supplier in the first quarter of 1983. He ordered 200 tons of PVC imports during his June visit. His own factory needed only 20 tons per month at that time. He ordered 10 times more than his actual requirement. He planned to buy cheap bulk stock and sell the extra material to small traders for a good profit.
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Taking Risks To Become A Business King
Gautam Adani convinced hesitant bankers to issue a Letter of Credit. This single deal changed him from a packaging maker to a commodity trader. He did Rs 10 crore business in the first year using Gujarat State Export Corporation import rights. A ship carrying his 5,000 tons of polymer sank in the sea once. He did not lose hope and opened a new LC immediately. He founded Adani Exports in 1988, which we now call Adani Enterprises. The Adani Group currently runs 10 listed companies with 48,000 employees.
