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Who is Gautam Adani?

Wednesday, July 28, 2021

/ by mansuralisaha


 News Cover: Really who is Gautam Adani, yeh banda hai Kaun? aur Kahan se aya ? and why is everyone hating on him? I asked myself this question and started looking into it, I was quite shocked. By some of the things I learned and I am going to present them to you today with zero bias. and today we are going to look at all the bad press that the Adani group has been getting and see if it's well deserved or not. I talk about Adani and the farmer’s protest but to get there we are going to go through the beginning and the rise of the Adani empire. On the list of the top 10 richest Indians, there are 4 people who have come from humble beginnings, the other 6 have their families to thank for their wealth. 

Gautam Adani who today is the 2nd richest man in India is one of the self-made men. His father was a middle-class textile merchant in Gujrat and Adani was one of 7 siblings. In his second year of college, he dropped out and moved to Mumbai to work as a diamond sorter He worked there for 2-3 years before establishing his own diamond brokerage firm. A few years later his brother bought a plastics unit in Ahmedabad and roped him in. This venture turned out to be Adani's gateway to global trading. 10 years later Manmohan Singh’s liberalization of the economy gave him a big push, and from just plastics, he expanded the business into trading of all these But his golden ticket that came in 1994, when he bagged the contract for managing the Mundra port, this was the first time that the government of Gujrat was outsourcing the management of the port. Now the point to be noted the chief minister at that time was Chimanbhai Patel and the ruling party was the congress. 

By the time Narendra Modi became Chief Minister of Gujrat Adani was already a very rich man who was handling the largest private sector port in India and had started Adani Power Limited. Today both companies are number one in their field TO say that he has led an interesting life well that would be an understatement. In 1998 he was abducted and held hostage for a ransom of 11.5 crores and mysteriously released without any money being paid. This was not the only time that he had a close call with danger. Adani was also present at the Taj Hotel during the 26/11 attacks. Approximately 166 people lost their lives but Adani was amongst the lucky people who managed to escape. After the Gujrat riots, all the big industrialists who make up the CII were unhappy with the way Chief Minister Narendra Modi handled things. At that time Mr. Adani was the only one to stick his neck out for Mr. Modi. He kept his headquarters in Ahmedabad and he was a key player behind the vibrant Gujrat campaign. Besides giving CM Modi his private airplane to travel the county for his campaigning. 

All of this seems to have paid off once Narendra Modi became Prime Minister. According to an article in live mint – when the BJP announced Narendra Modi as the primistarial candidate for the first time, Adani saw his wealth jump from 2billion to 6billion in 9 months’ time which means he was making 25 million dollars a day. Adani has had a meteoric rise to his wealth as you can see in this image, and since Mr. Modi came into office, as prime minister, Adani’s net worth has increased by about 230 percent to more than $26bn as he won government tenders and built infrastructure projects across the country. For eg: In 2020 despite having no experience 7 major airports around India were leased to the Adani group. Other companies who had prior experience in managing airports were kept away from the bidding process and despite the AAI act saying that no airport can be leased for more than 30yrs, the Adani group walked away with a lease of 50yrs. It would be understandable for one to believe that to do business in India a certain amount of corruption is necessary, so as an experiment I went to google and typed … Tata scam Ambani scam Birla scam, and Godrej scam. 

Tata got a cleaned chit nothing showed up, Godrej one thing showed up – but it seems that the poor gut they were scammed by someone else, Birla scam has something to do with coal in 2012 and the case has been dropped since. With Ambani 99% of the articles have to do with Anil Ambani and the only major scam as far as Mukesh is concerned has to do with his family’s income tax payments. But remember when the Panama papers came out and they revealed that rich people are part of a conspiracy to dodge taxes and hoard their wealth nothing really happened so we will pardon Mukesh Bhai.

 Maybe all these people are really good at SEO and covering their tracks and poor adani still has to learn how to play the google game because google adani scam and its never-ending pages. It seems that along the way many exceptions were made and mistakes were pardoned for the Adani group and yet they marched on to bigger and better things like Adani won the world's largest solar bid by SECI worth $6 billion. Adani has been sanctioned special economic zone for plants and ports giving him immense tax benefits, despite opposition from the public.

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