Recent criticism of the Adani Group, one of India’s biggest companies, has sparked debates. Many experts believe these attacks are not just about business; they seem to be part of a bigger plan by Western powers to challenge Adani’s growing influence, especially in Asia and Africa, where the company is involved in large-scale infrastructure projects.
According to insiders, the attacks on Adani could be connected to a US deep state strategy. They claim this plan aims to weaken India’s key financial institutions, like the State Bank of India (SBI) and the Life Insurance Corporation (LIC), which provide loans to Adani. The fear is that if these financial giants are impacted, it could harm India’s economy. As one expert put it: “If SBI and LIC are hit, our country is in trouble.”
Western Concerns About India’s Growth
Western media has recently published reports questioning the investments SBI and LIC made in Adani, accusing the company of wrongdoing. These accusations don’t just target Adani but also take aim at India’s regulators, such as SEBI (Securities and Exchange Board of India), claiming they don’t maintain proper standards. This is evident by the recent withdrawal of major audit firms like Deloitte from working with Adani. The message seems to be: India’s regulatory system isn’t working, and that could spell trouble for the global economy.
But experts believe these criticisms are more about fear. The West is worried about Adani’s rapid expansion and, more broadly, India’s economic rise. For some in the West, India’s growing power is hard to accept, and they see Adani as a symbol of this. As one insider pointed out, the West is “mighty scared” of India’s rise.
Adani and India’s Economic Strategy
Adani’s close ties to the Indian government also raise concerns. The company is one of the biggest players in India’s infrastructure sector and relies heavily on loans from state-backed institutions like SBI and LIC. However, after the infamous Hindenburg report—which accused Adani of financial misdeeds—these loans accounted for less than 1% of SBI’s lending portfolio. In fact, SBI has made more than double its original investment in Adani.
Despite the initial hit after the Hindenburg report, SBI’s profits from its investments in Adani have rebounded significantly over the past year and a half. Insiders suggest that both SBI and LIC actually extended more credit to Adani after the incident, which helped stabilize the company’s share prices.
Adani’s Global Expansion Continues
The Adani Group hasn’t slowed down. The company recently made headlines after the Kenyan government proposed leasing Jomo Kenyatta International Airport to Adani for 30 years in a $1.85 billion deal. This sparked protests in Kenya, especially after a whistleblower revealed the deal on social media. However, the Kenya Airport Authority (KAA) confirmed that it had signed an agreement with Adani, dismissing some of the rumors as fake news.
Kenya isn’t the only country where Adani is expanding. The company has also invested in Haifa Port in Israel and is looking at projects in countries like Sri Lanka, Morocco, the Philippines, and Tanzania. According to sources, Adani’s growing presence in Africa is causing concern in the West. Africa, much like India during British colonial rule, is rich in resources but has been exploited by European powers for centuries. Adani aims to help African countries protect and develop their infrastructure, which could reduce Western influence on the continent.
The Bigger Picture: A Fear of Competition
Ambassador (Retd.) Anil Trigunayat, a senior fellow at the Vivekananda International Foundation, agrees that much of the criticism against Adani is biased. He believes that Western powers are uncomfortable with Adani’s global reach, particularly in regions like Asia and Africa, where political conflicts often arise over large infrastructure projects. In his view, the attacks on Adani are partly due to an anti-India bias, fueled by misinformation spread by Western media.
Trigunayat suggests that the intense focus on Adani is a sign that the West is worried about India’s rise as a global power. He believes Western media often exaggerates issues to undermine India’s growing influence. The fear is that India, with companies like Adani at the forefront, is becoming too powerful, too fast. This competition threatens the established order, where Western countries have traditionally dominated.
In conclusion, Adani’s global expansion is reshaping the economic landscape, and it seems that not everyone is happy about it. While Western media questions the company’s practices, insiders argue that these criticisms are motivated by fear—fear of losing influence in a world where India is rising rapidly. Whether or not these attacks will slow down Adani’s growth remains to be seen, but one thing is clear: Adani’s global journey is far from over.
