Here is a brief timeline of the Adani Group’s journey so far –

1988: Gautam Adani starts the Adani Group as a commodity trading business.

1990: The enterprise enters into the import-export business, with products such as frozen foods, dyes, plastic products, agricultural products, etc.

1991-92: Expansion into agri-storage and warehousing business, signs joint venture with Cargill for salt exports from Mundra port.

1994: Adani Enterprises gets listed on Stock Exchanges, with IPO getting subscribed 25 times and a listing price of INR 150 apiece 

1997-98: The group enters into the ports and logistics business, signs an agreement with the government of Gujarat to develop the Mundra port and sets up a 3,000-hectare industrial park. During this period, it also becomes the highest net foreign exchange earner for India. Adani Group also begins a coal trading business in India. It also signs a memorandum of understanding with Eastern Generation to jointly develop, own and operate thermal power projects. 

1999-2000: The group signs a memorandum with Wilmar Trading to form a joint venture and launches its FMCG flagship ‘Fortune’ brand for package edible oil. 

2006: Begins food processing business under Adani Agrifresh, and sets up grain silos under Adani Agri Logistics. The group also forays into thermal power and begins construction of a 660 MW thermal power project at Mundra Port. The name of the company also changes from Adani Exports to Adani Enterprises during this period.

2008: Enters into oil and gas exploration business, forms joint venture company with Chemoil Energy for expansion of their bunkering business

2009: The group sets up or acquires a total of eleven subsidiaries – Adani Gas, Adani Pench Power, Adani Power Singapore, Kutchh Power Generation, Rahi Shipping Singapore, Vanshi Shipping Singapore, Adani Cements, Maharashtra Eastern Grid Power Transmission, Mahaguj Power, Adani Infra, and PT Aneka Sumber Bumi Indonesia. With these companies, the group forays into cement and several other businesses.

2010: Acquires the Carmichael mine in Australia

2011-12: Announces entry into the renewable energy business, commissions India’s largest solar power plant in Gujarat

2014: Adani and Posco agree to build a rail line in Australia

2015: Diversification of business into defence and aerospace sectors

2017-18: The group begins manufacturing solar panels. It also acquires the power arm of Reliance Infrastructure for INR 18,800 crores. Adani Group also expands business into the data centre and digital infrastructure sectors in partnership with US-based Digital Realty. Adani Defence and Aerospace along with Elbit Systems inaugurate India’s first private UAV manufacturing facility.

2020: Acquires 51% equity stake in PLR systems engaged in the manufacture and supply of defence equipment for the armed forces

2021: Forms AdaniConnex, a joint venture with EdgeConnex to develop and operate data centres throughout India. The group bags the largest expressway project in India.

2022: Acquires stake in Ambuja Cements and ACC for USD 10.5 billion, becoming the second-largest cement maker in India. It also acquires the Gulf Giants cricket franchise in UAE’s International League T20.

2023: Adani Group becomes the largest solar power producer in the world with the commissioning of new solar power projects. The group purchases the Ahmedabad cricket franchise in the Women’s Premier League.