Adani Scandal and Global Perspectives

Jun 28, 2024

Lecture Notes: Adani Scandal and Global Perspectives

Introduction

  • Adani's Story: Recognized as a favored industrialist in India under PM Modi.
  • Scandal Reaction: Wake-up call for the Indian government to overhaul regulatory systems.

Western Countries' Discrimination

  • Experience of discrimination against Indians abroad, despite their talent and success.
  • Western Strategy: Two ways to stay on top - work hard to stay ahead or pull competitors down.
  • Historical Context: Includes nuclear power resistance and colonial legacy.

Financial Times Allegations

  • Source of Funding: Financial Times backed by George Soros, who has invested to remove Modi.
  • Documentary on Adani:
    • Claims of market manipulation.
    • Advising against investing in India due to poor investigations.
    • Modi helping Adani allegedly.
    • Involvement of Indian journalists raising questions.
    • MP Mahua Moitra's statements as bases.

Main Allegations and Rebuttals

  1. Hindenburg Report: Allegations against Adani for market manipulation leading to $100 billion loss.
    • SEBI and Supreme Court cleared Adani.
    • Hindenburg's short selling strategy for profit.
  2. India as Scam Market: Narratives to deter foreign investments by showing India as risky.
    • Led to withdrawal of foreign investments affecting the economy and businessmen.
  3. Modi's Support for Adani: Allegations included Modi's support as reason for Adani's success.
    • Congress also helped Adani historically, with better growth during Congress governance.
  4. Indian Journalists: Allegations supported by biased journalists often funded by Congress.
  5. Mahua Moitra's Statement:
    • Accusations based on her questionable conduct and gifts received from a businessman.

Financial Times Bias

  • Track record of showing anti-India narratives.
    • E.g., Broken Indian flag, negative vaccine coverage, terrorism support articles.

Summary

  • Western Insecurities: Inability to accept non-Western success leads to sabotage efforts.
  • Indian Collaboration: Domestic journalists and politicians sometimes aid these efforts.
  • Message: Importance of readiness for multifrontal strategy wars as advised by Gen. Bipin Rawat.

Conclusion

  • Encouragement to share knowledge about Western efforts to undermine Indian success and growth.