Billionaire Kumar Mangalam Birla is looking to invest as much as $30 billion, undeterred by multiple global crises, which he acknowledged have made investment decisions tougher for his metals-to-retail empire.
“You either grow, or you go down; you can’t stay in a state of equilibrium,” the chairman of the Aditya Birla Group said at the Bloomberg New Economy Forum in New Delhi on Tuesday.
The group, which generates over a third of its business overseas, is planning this investment over the next two to three years across businesses in India and overseas, he said on the event’s sidelines.
“We are also increasing the investment in the US,” he said.
“Because we are a global organisation, when I read about a significant global event in the newspapers, I can be sure that it will impact us somewhere,” Birla said.
The conglomerate will make investments in AI “a little more gradually than we thought a year ago,” Birla said. “I don’t think we need to act out of a sense of FOMO.”