Vedanta eyes $50 billion in revenue and $20 billion in profit; focus is on West Bengal for power generation and aluminium

50 billion in revenue and 20 billion in profit is what Vedanta Group is looking forward to over the next two years, said the Founder & Chairman, Mr Anil Agarwal, during an interactive session organised by the Indian Chamber of Commerce (ICC) at Taj Bengal, Kolkata on October 28, 2026. While he sees India as a powerhouse of metals and minerals, his attention is caught by West Bengal, located in the Eastern part of India.

Mr Agarwal believes the future of Bengal looks bright, as the state has a strategic geographical location with major mining states like Jharkhand and Odisha as its neighbours. By directing high hopes for Bengal and praising the double engine government, Agarwal expressed his willingness to invest in the state in sectors like mining, minerals and power. He also met the Chief Minister of West Bengal Mr Shuvendu Adhikari, who urged Vedanta to invest and create 10,000 jobs in the state.

Vedanta is exploring INR 70,000 to 80,000 crore (USD 7.3-8.4 million) investments in West Bengal to set up power generation facilities and an aluminium smelter over the next three years, subject to feasibility and government support. The conglomerate is contemplating Asansol as a potential location for the projects, given the availability of coal, infrastructure, and proximity to Jharsuguda for logistics of sourcing alumina.

At today’s session, hosted and moderated by Mr Parthiv Neotia, President of the Indian Chamber of Commerce and Managing Director of Ambuja Neotia Healthcare, Mr Anil Agarwal also brought India’s geological exploration strength into focus, while urging the nation to invest and conduct more exploration to discover natural resources. He made a strong case for unlocking India’s mineral wealth and developing a robust ecosystem of downstream manufacturing, mentioning that the metal aluminium alone has 150 downstream products.

According to Mr Agarwal, domestic manufacturing will eventually make India a self-reliant nation and enable it to reduce imports. 60 per cent of India’s economy is stagnated because of imports, which needs to be curbed, urged Mr Anil Agarwal.

At the sideline while addressing the press, Mr Agarwal said, “The demand for metals and minerals is growing in India, and we have all the resources to meet it. Our hard-earned money is going outside the country because of imports. So, we must stand united and support each other in expanding production and entrepreneurship.”

Anil Agarwal addresses the press in Kolkata on October 28. Photo credit: AL Circle.

“Talking about West Bengal in particular, he said the state has all the resources, including human resources, and has a good demand; so, the state must show confidence to businesses to come and invest. Enterpreneurs can set up industries in West Bengal for INR 5 to 50 crore (USD 0.5-5.3).”

On inclusive growth, Agarwal highlighted Vedanta’s commitment to 35 per cent women’s representation across the organisation, as mandated in the company’s Articles of Association. He reiterated that job creation must remain central to India’s growth ambitions. Building large industrial facilities should be the goal because they create opportunities for smaller businesses, suppliers and entrepreneurs.

When asked for a message for young entrepreneurs and what they should not learn from the earlier generation, he candidly said: “They should not be scare of a government. Respect it but do not fear it”.

Explore the production, demand and consumption forecasts of India's bauxite and alumina in our report: "Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook"