Vedanta Chairman Anil Agarwal Meets Rajasthan CM Bhajan Lal Sharma
During the meeting, Agarwal emphasises the productivity of his discussions with Bhajan Lal Sharma, highlighting their shared vision for the state's growth
Anil Agarwal, Chairman of Vedanta Group, met with Bhajan Lal Sharma, Chief Minister of Rajasthan, to discuss the state’s outlook and plans for the natural resources sector – metals, minerals, and oil & gas - which is crucial for creating large-scale employment opportunities and contributing to the state’s economic growth, as well as nation building.
Reinforcing the Vedanta Group’s steadfast commitment to the State, Anil Agarwal, Chairman of Vedanta Group, said, “Rajasthan is a national natural resources growth engine with the potential to power an Atmanirbhar Bharat across the minerals, metals, and oil & gas sectors. Both, the state of Rajasthan and Vedanta, are open to further collaboration aimed at fuelling India’s ambition of becoming self-reliant in natural resources and thus a global manufacturing hub.
Vedanta has made investments in excess of INR 1.50 Lakh Crore in Rajasthan to date. Two of its flagship businesses Hindustan Zinc and Cairn Oil & Gas have their largest operations in the state. In FY 24, Vedanta’s contribution to the State Exchequer was INR 10,000 Cr.
He added, "My discussions with Bhajan Lal Sharma were highly productive, sharing the vision of his government for the state’s growth centred around transparency, efficiency, and value to global investors. Under his leadership and our long-standing partnership, the government’s thrust on mineral exploration, value-addition, research & development, and innovation will lead to a glorious chapter in the legacy of this incredible state.”
Under Vedanta's leadership, Hindustan Zinc’s market capitalisation since its disinvestment in 2002 has grown more than 400 times from about INR 650 crore (USD 100 million) to about INR 2,90,000 crore (USD 34 billion) and made the company a world leader.
Cairn Oil & Gas, also part of the Vedanta Group, contributes 25 per cent of India's domestic crude production, a large part of which is from its operations in Barmer, Rajasthan. Cairn also recently implemented the largest commercial Alkaline Surfactant Polymer (ASP) flooding procedure in the high oil viscosity Mangala field in Barmer to enhance recovery from the matured field. Cairn is also executing the largest exploration project by any private company in India and has plans to drill exploration and development wells in Barmer in FY25.
Through these companies, Vedanta has created more than 50,000 direct and indirect job opportunities in Rajasthan.
