Vedanta CEO Warns Tariffs Risk Slowing Global Energy Transition
Deshnee Naidoo, CEO of Vedanta Resources, has warned that emerging trade tariffs may slow down worldwide energy transformation efforts, despite India's advancement toward its most aggressive renewable energy goals while maintaining coal as a fundamental energy source.
During remarks at an industry conference, Naidoo noted that the 50 percent tariffs Trump declared on Indian exports would likely not significantly impact the broader economy since domestic demand fuels much of India's economic expansion, though such measures might disrupt international decarbonization initiatives.
“The GDP impact will be less than 0.5 per cent at a macro level. But tariffs absolutely risk slowing down the pace as well as the scale of the energy transition of the world,” she said.
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She further stressed that coal will continue serving as a fundamental component of India's energy infrastructure despite rapid expansion in renewable energy capacity.
Regarding essential minerals, she called on the government to focus on upstream exploration and mining activities to support India's domestic manufacturing objectives.
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“We definitely need to do more on the extraction side,” she said. “If we do not get the basic raw materials to feed into these value chains, we will always be at the liberty of other geographies.”
Naidoo highlighted the importance of India fostering its own domestic supply chains, especially in renewable energy infrastructure and battery production, to speed up the energy transformation process.
She cautioned that progress has been slow so far, noting, “Sometimes we’re not doing it. We’ve got to get faster,” and highlighted the lack of an established, seamless manufacturing value chain in these sectors.
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The crucial factor for India, she concluded, is building independent domestic supply chains instead of continuing dependence on China.
Vedanta Aluminium recently announced significant changes to its senior leadership structure. The organization has named Amit Gupta to serve as Deputy Chief Financial Officer for Vedanta Aluminium while simultaneously taking on the role of Chief Financial Officer for the company's Jharsuguda operations.
Gupta joined the Vedanta Group in 2018, holding the position of Group Head for Business Planning and Analysis at Vedanta Resources Limited. His professional background spans more than two decades, with expertise in financial strategy, project financing, and organizational transformation.
Prior to his current appointment, Gupta spent over four years leading the finance function as CFO at Bharat Aluminium Company Limited (BALCO). His career history encompasses executive positions at prominent organizations including Cairn India Limited, LG Electronics, and Vishal Retail Limited. This leadership change demonstrates Vedanta Aluminium's commitment to enhancing its financial management structure and strategic planning abilities. Through Gupta's diverse cross-industry expertise, the organization seeks to improve operational effectiveness and achieve sustainable expansion.