Anil Agarwal’s Vedanta records the highest jump in forbes global list — Check out the reasons

May 13, 2022

By: Bhakti Makwana

Forbes Global 2,000 list of top companies in the world

Forbes released a list of top 2,000 companies around the globe, and Reliance Industries occupied the top slot, followed by banks, energy majors TCS and Tata Steel. However, the most remarkable growth came from Anil Agarwal’s Vedanta group.

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Vedanta records the highest jump on the list to rank 593

The oil to metals conglomerate Vedanta jumped 703 spots to rank at 593 on the Forbes global list. It is the highest leap among all Indian companies, and was aided by a surge in commodity prices, especially that of aluminum.

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Production halt in China benefits major Indian aluminum players like Vedanta

China, the world's biggest producer of aluminum, has been struggling with a severe shortage of electricity which has left factories struggling with production.

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Production halt in China benefits major Indian aluminum players like Vedanta

This led to a supply crunch thereby giving a great opportunity to Vedanta to cover the gap.

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Vedanta made a profit of $2.63 billion in FY22.

According to the Forbes report, Vedanta generated $16.38 billion in sales with a profit of $2.63 billion in FY22.

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China aims to achieve carbon neutrality by 2060

The country aims to gradually increase the share of non-fossil energy consumption. In order to cut down carbon output, it is restricting the electricity consumption and production of power-intensive industries such as alumina refining and aluminum smelting - giving Vedanta the competitive edge.

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Vedanta is a multinational mining company

The company is among the world's largest oil & gas and metals companies with major products -- oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminum and power across India, South Africa and Namibia.

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Russia-Ukraine war aided Vedanta with more exporting opportunities

Russia is a major global exporter of commodities, including aluminum and steel. Reportedly, Russia accounts for six million tons of annual aluminum production capacity out of 72 million globally. The sanction on Russia stopped it from aluminum supply.

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Anil Agarwal ranks 63rd on list of top 100 billionaire list

The founder and chairman of Vedanta Resources is among the top 100 richest people in the country and has a net worth of $3.25 billion.

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