Vedanta's Anil Agarwal said a US-Iran deal will have limited impact on India's economy as it's a consuming, not exporting, market. He also affirmed the group's commitment to its capex plan for energy security and downplayed market volatility.
"India has very little [to lose]. Our needs are very much, 1.5 billion people. All the countries where they produce, they export. We don't have to export. We have our own requirement. There will be some impact. But it is not a massive impact. Because our production is here. And we sell our material here."
US-Iran Agree to Deal, Ending Blockade
US and Iran have agreed to a "memorandum of understanding" due to be signed in Switzerland on Friday, which will end a US blockade of Iranian ports and reopen the Strait of Hormuz. "The deal with the Islamic Republic of Iran is now complete," US President Donald Trump announced on Sunday on his Truth Social platform. "Ships of the world, start your engines. Let the oil flow!"
Iran's deputy foreign minister, Kazem Gharibabadi on Monday, said a broader deal that would cover sanctions relief for Iran would be worked out during a 60-day ceasefire.
Vedanta Firm on $5 Billion Capex for Energy Security
Addressing concerns over whether cooling global commodity prices would prompt a rethink of the group's massive $5 billion capex plan for Vedanta Oil and Gas, Agarwal remained resolute about building domestic energy security. "Vedanta Oil and Gas has never lacked money. And we also got a very good return. Those who invested also got good money," he affirmed, emphasizing that domestic exploration is the only way to make India self-sufficient and shield it from external supply shocks.
Agarwal Downplays Market Volatility, Inflation Worries
Asked about the immediate listing pressure - given that a couple of new listings hit their lower circuits right out of the gate today- and about plans to trim the group's debt, Agarwal shrugged off market volatility. "This is the market. Something or the other has happened in the market," he noted. "I take full responsibility of every investor, everyone who has joined our company. This is what I keep in mind that my investor should earn the best money here, this company should run the best."
The corporate veteran also downplayed worries regarding the Wholesale Price Index (WPI) spiking to a four-year high of nearly 10 per cent amid soaring fuel and power costs. "It may react. There will be some reaction. But everybody reacts. AI has come. A lot of new technology has come. We are balancing," Aggarwal said.
Vedanta Demerger Likened to 'Young Banyan Trees'
Earlier, addressing the gathering from the NSE dais today, Agarwal likened the conglomerate's demerger to a mature banyan tree giving rise to young, independent, and powerful entities. "Now this banyan tree has become young... So our five banyan trees have become young. They are ready. They have to be ready and independent," he declared, mapping out a bold vision to scale each independent business into a $100 billion enterprise.
The event was also attended by NSE Managing Director and CEO Ashish Kumar Chouhan, alongside Vedanta Group Vice-Chairman Navin Agarwal, Director Priya Agarwal Hebbar, and Board Member Munsif Agarwal. Welcoming the four new listed entities, Chouhan lauded India's thriving capital ecosystem, noting that the NSE facilitated a record 222 IPOs in FY26, raising about Rs 1.89 lakh crore. (ANI)
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