February 23rd 2025.
The Adani Group, a leading global infrastructure development company, has announced that it contributed a staggering amount of Rs 58,104.4 crore to the government's treasury in the financial year 2023-24. This represents a significant increase from the previous year's contribution of Rs 46,610.2 crore, as reported by the company on Sunday.
In line with their commitment to maintaining the highest standards of governance and prioritizing all stakeholders, the Adani Group has released their 'Tax Transparency Reports' for the fiscal year 2024. These comprehensive reports are published by seven of the group's listed entities, namely Adani Enterprises Limited, Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, Adani Energy Solutions Limited, Adani Power Limited, Adani Total Gas Limited, and Ambuja Cements Limited.
It is worth noting that the group's contribution also includes taxes paid by three other listed companies - NDTV, ACC, and Sanghi Industries - which are held by the seven entities mentioned above. Speaking on the importance of transparency, Gautam Adani, the Chairman of the Adani Group, stated that "Transparency is the foundation of trust, and trust is essential for sustainable growth."
He further added, "As one of India's largest contributors to the exchequer, we understand that our responsibility goes beyond mere compliance. It is also about operating with integrity and accountability. Every rupee we contribute to our nation's finances reflects our commitment to transparency and good governance." Adani also emphasized that by making these reports public, the group hopes to enhance stakeholder confidence and set new standards for responsible corporate behavior.
The 'Tax Transparency Reports' provide a comprehensive breakdown of the Adani Group's global tax and other contributions. This includes direct contributions such as taxes, duties, and other charges paid by the group's companies, as well as indirect contributions like taxes and duties collected and paid on behalf of other stakeholders. The report also covers other contributions, such as social security benefits provided to employees.
The group sees tax transparency as an essential component of its broader Environment Social Governance framework. Their goal is to achieve a balance between growth and social responsibility, with a focus on transforming India's infrastructure while promoting innovation and creating long-term value for stakeholders. In today's world, where the global tax environment is constantly evolving, forward-thinking companies like the Adani Group are taking a proactive approach by voluntarily releasing their Tax Transparency Reports, even though it is not mandatory.
Through these reports, the group aims to bring attention to their commitment to transparency and integrity in tax compliance and reporting, and build trust with stakeholders. By doing so, they hope to demonstrate their dedication to responsible business practices and contribute to a more accountable global tax environment.
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