At an interaction hosted by the Indian Chamber of Commerce in Kolkata, Agarwal called for greater investment in mining, mineral exploration and downstream manufacturing, emphasising the need to reduce import dependence and strengthen India’s industrial capabilities.
Kolkata, October 28, 2026: The Indian Chamber of Commerce (ICC) hosted Anil Agarwal, Founder and Chairman of the Vedanta Group, for a discussion on India’s manufacturing ambitions, mineral exploration, entrepreneurship and the role of industry in driving economic growth.
During the interaction, Agarwal called for accelerating domestic mineral exploration, encouraging entrepreneurs to invest in mining and developing downstream industries that can convert India’s natural resources into higher-value products. He emphasised that reducing dependence on imports and expanding domestic manufacturing would be important to India’s ambition of becoming a global manufacturing powerhouse.
The session was hosted by Parthiv Neotia, President of the Indian Chamber of Commerce and Managing Director of Ambuja Neotia Healthcare.
Anil Agarwal Calls for Greater Domestic Manufacturing
Addressing the gathering, Agarwal highlighted the need for India to make greater use of its natural resources by strengthening domestic production capabilities and building industries around locally available raw materials.
“India cannot continue to depend on imports when we have the resources to manufacture these products at home,” Agarwal said.
He called for faster mineral exploration and greater participation from entrepreneurs in the mining sector. According to him, developing downstream manufacturing industries could help India move beyond the extraction of raw materials to producing higher-value goods domestically.
Agarwal also highlighted the difference in the time required to establish large mining projects and downstream manufacturing businesses. While major mining projects can take years to materialise, downstream industries can create businesses, employment opportunities and economic value more quickly.
He said India must move from being an importer to becoming a global manufacturing powerhouse, supported by investment, entrepreneurship and stronger industrial capabilities.
Entrepreneurship, Investment and Corporate Governance
Beyond manufacturing, Agarwal underscored the importance of persistence, innovation and opportunity creation in entrepreneurship. He said businesses must focus not only on growth but also on generating value for shareholders, supported by transparency and sound corporate governance.
“Entrepreneurship is about persistence, innovation and creating opportunities for others,” he said, adding that shareholders should benefit when businesses perform well.
His remarks placed corporate accountability alongside industrial expansion, highlighting the importance of governance and transparency in building sustainable businesses and attracting investment.
ICC Leaders Highlight Agarwal’s Entrepreneurial Journey
Welcoming Agarwal, Dr Rajeev Singh, Director General of the Indian Chamber of Commerce, described his journey from arriving in Mumbai at the age of 19 with limited resources to building the Vedanta Group into a global business.
Singh highlighted Agarwal’s entrepreneurial achievements and his commitment to philanthropy, noting his pledge to dedicate 75% of his wealth to the nation. He also referred to Nand Ghar, an initiative supporting women and children in rural India through the transformation of Anganwadi centres.
In his welcome address, Keshav Bhajanka, Senior Vice President of ICC and Executive Director on the board of Century Plyboards (India) Ltd., highlighted Agarwal’s role in transforming businesses such as Bharat Aluminium Company (BALCO) and Hindustan Zinc.
Bhajanka said Agarwal’s ability to recognise business potential and pursue ambitious opportunities reflected the role of vision and determination in building large enterprises. He also emphasised the significance of the entrepreneur’s philanthropic commitments and their potential to contribute to social development.
Nand Ghar and the Role of Social Impact
The discussion also recognised the connection between wealth creation and social responsibility.
ICC’s leadership highlighted Nand Ghar, which works to support rural women and children through initiatives linked to Anganwadi centres. Singh referred to the initiative’s support for 15,000 Anganwadis, while Bhajanka highlighted Agarwal’s broader commitment to philanthropy.
In his vote of thanks, Gyanesh Chaudhary, Vice President of ICC, acknowledged Agarwal’s perspectives on manufacturing, entrepreneurship and the importance of building businesses that attract capital, talent and customers.
Chaudhary also recognised the social impact of Nand Ghar and thanked Parthiv Neotia for moderating the discussion, along with the ICC team for organising the interaction.
Strengthening India’s Manufacturing Ambitions
The discussion brought together themes of domestic manufacturing, resource development, entrepreneurship, corporate governance and social responsibility.
Agarwal’s call for accelerating mineral exploration and encouraging downstream industries highlighted the potential for India to capture greater value from its natural resources. Expanding domestic manufacturing could also support job creation, business formation and the development of industrial supply chains.
As India pursues its manufacturing ambitions, investment in exploration, industrial capacity and value-added production will remain important to reducing import dependence and strengthening its position in global markets.
By- Vanshika Tayal
