Adani’s relationship with Modi dates back to 2002, when he was a businessman in Gujarat and Modi was chief minister of the state. It is important to note that their rise has happened in tandem. After Modi won the general election in May 2014, he flew to Delhi on Adani’s plane. By 2022, Adani had become India’s richest person and the world’s third richest person. This can be explained by the many laws that the current BJP government has instituted to help the Adani Group acquire newer businesses.
However, at the beginning of 2023, a report published by the New York financial research firm Hindenburg charged the Adani Group with pulling off the biggest con in corporate history: stock manipulation and accounting fraud. The Adani Group has denied these claims and continues to enjoy free reign over the Indian and global economic market.
