Summary

Anil Agarwal, born in 1954 in Patna, Bihar, is the chairman and founder of Vedanta Resources, a diversified natural resources group listed worldwide. Having started from scratch as a scrap metal dealer, Agarwal developed one of India's most prominent industrial dynasties with interests in oil & gas, zinc-lead-silver, aluminium, iron ore, steel, copper, ferro alloys, power, nickel, semiconductor and glass. In 2003, Agarwal became the first Indian to list a firm on London Stock Exchange.

Personal Information

Major Events Timeline:

• 1965: Anil Agarwal established Vedanta Resources as a cable producer which later became the first Indian company listed on the London Stock Exchange.
• 1992: He launched Vedanta Foundation to empower marginalized communities through affordable education and skill development initiatives.
• 1993: Sterlite Industries was the first private sector company in India to establish a copper smelter and refinery.
• 1995: Sterlite Industries acquired Madras Aluminium, first foray into aluminium business.
• 2014: He committed to give away 75% of his family fortune to charity and became a member of the Giving Pledge in 2021.
• 2018: He took Vedanta private after paying more than $1bn for the one-third of the metals firm that he didn't already own.
• 2023: Vedanta approved a $1.02bn fundraise and announced a demerger into six standalone companies.
• 2024: Vedanta Aluminium announced its aim to have 30% of its energy mix from renewables by 2030.
• 2025: A $20bn growth plan was launched in different businesses like zinc, aluminium, copper, iron, steel, oil, gas and power.

Achievements

Agarwal directed major expansions in aluminium, zinc and oil production.

He turned Vedanta into a global conglomerate with businesses in India, Africa and Australia.

Challenges and Controversies

The Dongria Kondh tribe in Odisha successfully blocked Vedanta Resources’ bauxite mining project in the Niyamgiri Hills through a historic 2013 Supreme Court ruling. All 12 village councils unanimously rejected the project, protecting their sacred land.

Vedanta was sued by 2,000 villagers in Zambia for dumping toxic waste in the Kafue River, leading to mass illness, poisoning of water sources and destruction of farmland.

Vedanta's Tamil Nadu Sterlite copper plant was closed in 2018 after 13 individuals perished due to police firing on environmental activists.

Vedanta Resources experienced huge debt issues, resulting in credit rating downgrades. The company responded by creating a demerger strategy to break up into six companies to decrease debt by $3bn within three years.

During the Covid-19 pandemic, Vedanta was accused of lobbying the Indian government to water down critical environmental regulations.