Daijiworld Media Network - Ahmedabad
Ahmedabad, Feb 23: The Adani Group, a leading name in infrastructure development, has released its Tax Transparency Reports for the financial year 2023-24, highlighting a significant contribution of Rs 58,104.4 cr to the exchequer.
This marks a substantial rise from Rs 46,610.2 cr in the previous year, with the figures covering taxes and other payments made by seven of its listed entities—Adani Enterprises Ltd, Adani Ports & SEZ Ltd, Adani Green Energy Ltd, Adani Energy Solutions Ltd, Adani Power Ltd, Adani Total Gas Ltd, and Ambuja Cements Ltd. The contributions also include tax payments from NDTV, ACC, and Sanghi Industries, which are subsidiaries of these entities.
"Transparency is the foundation of trust, and trust is essential for sustainable growth," said Gautam Adani, Chairman of the Adani Group. He emphasized that the group's commitment extends beyond compliance, aiming to foster stakeholder confidence through voluntary disclosures.
The report details direct tax contributions, duties, and levies paid by the Adani companies, as well as indirect contributions like taxes collected on behalf of stakeholders. Social security payments made for employees also form part of the financial impact assessment.
The company has engaged an independent agency to verify its tax contributions, further reinforcing its commitment to good governance. By aligning tax transparency with its ESG framework, Adani Group aims to balance growth with social responsibility while setting new benchmarks for corporate accountability.
With global tax norms evolving, the voluntary release of tax transparency reports by forward-thinking companies is gaining traction, enhancing credibility and trust among stakeholders