‘Our’ Adani is a holy basil plant,
‘Your’ Adani is a drop of poison.
Are there two Adanis in India today who have become a “hot topic”? No, there is only one Adani, and he is Gautam Adani, the head of the Adani Group.
Every morning, Rahul Gandhi wakes up thinking of Adani and goes to bed remembering him. Similarly, leaders and followers of political parties like Congress, Communists, BRS, and a section of the national and Telugu media constantly chant the name of Gautam Adani. The allegations they make against him are as follows:
- Adani rose to such heights only because of Modi’s backing.
- There is a quid pro quo relationship between Modi, born in Gujarat, and Adani (they help each other).
- Modi’s government supports corporate powers.
- Adani has taken loans from banks and hasn’t repaid them.
- Due to the Adani Group, LIC and SBI are incurring huge losses, possibly leading to bankruptcy.
- The Indian economy is being ruined by Adani and Ambani, deterring foreign investments.
These allegations, when repeated constantly, can create doubts in the minds of the public. In today’s world, with the vast reach of social media, even lies can be made to appear as truths. But how many have the curiosity or patience to investigate and seek the truth? How many are willing to spend time for it?
Here, an attempt is made to objectively and deeply understand this controversy.
Gautam Adani’s Journey
Gautam Adani was born on June 24, 1962, in a middle-class family in Sethni Pole, Gujarat. His father, Shantilal, ran a small textile shop. Gautam was not academically inclined [many Gujaratis are like this, though they excel in business]. At the age of 18, despite his lack of interest, he joined a commerce degree program but dropped out midway. In 1980, he moved to Mumbai with just a few hundred rupees in his pocket and joined Mahindra Brothers, a jewelry shop, as a diamond sorter. Quickly learning business acumen, Adani opened his own diamond brokerage shop within two years and made good profits in his first year itself.
Seeing his potential, his elder brother Mahasukh Adani called him back to Gujarat and entrusted him with the newly established plastic film manufacturing unit. This unit required PVC (Polyvinyl Chloride) as a key raw material.
Timeline of Key Events:
- 1985: Both the central and Gujarat governments were Congress-led, with Rajiv Gandhi as Prime Minister. Rajiv’s government placed PVC and 150 other items under the Open General License category, making them easier to import. Adani leveraged his contacts with Congress leaders, struck a deal with Gujarat’s Congress-led government’s GSEC (Gujarat State Electricity Corporation Ltd.), and started importing PVC for sale in India. Profits soared.
- 1988: Adani set up Adani Enterprises to focus on exports.
- 1991–1996: During P.V. Narasimha Rao’s Congress government, India underwent economic liberalization, which also opened ports for private participation. Recognizing the potential of ports, the Adani Group partnered with Gujarat Maritime Board under the Congress-led Gujarat government, acquiring Mundra Port in 1994.
- 2006: During Dr. Manmohan Singh’s tenure, the UPA government granted multiple licenses to Adani to establish a Special Economic Zone (SEZ) in Mundra.
- 2010: The Adani Group purchased Abbott Point Port and the controversial Carmichael Coal Mine in Australia.
- 2012: Adani’s assets were valued at ₹33,211 crores.
Statements by Gautam Adani:
In an India TV interview, Gautam Adani said, “If I am at this level today, it’s because of the encouragement I received during the early stages from then Prime Minister Rajiv Gandhi.” He further credited three individuals for his growth:
- Rajiv Gandhi
- P.V. Narasimha Rao
- Keshubhai Patel
