Since the last few weeks, the entire nation has been talking about the Adani Group crisis and it has become a hot cake for the political parties as well, especially the opposition. The Hindenburg report is being seen as a big eye opener on Adani's flawed processes but how much truth is in that? In fact, here is another perspective that many are blind to.
The Adani Group is gunning to capture the Haifa Port in Israel and the reason is, they want to put a check to the Chinese dominance there. Already, China runs the container yard there and Adani has bid five times more than the second bidder just to grab the contract. Haifa holds a very crucial place because India is starting a trade route to UAE-Saudi-Jordan-Israel-Cyprus-Greece providing access to entire Europe and this port is the key to enter.
Secondly, India has signed an MOU with Egypt on developing the Economic Development Zone and industry around the Suez Canal around Egypt. Adani's investment has gone there as well and it looks to be at the behest of the Indian government. Even Africa has captured the government's attention and Adani group has gone there to produce 510 MW of electricity.
When it comes to the claim that if Adani group goes down, all banks will collapse. Adani's debt exposure is 1.5% in public sector banks and 6% in private sector banks and these loans are against infrastructure projects. But then, Adani is operating 13 sea terminals and controls 24% of Indian maritime commerce so will the banks really collapse?
While the above is a gist of activities undertaken by Adani and their strengths, the bigger picture revolves around how the government of India is doing its best to make its position strong in the global scenario. Hope everyone thinks through this deeply and then realizes.
