The Adani rising story aided by policy changes

In 2018, a policy change removed the requirement for prior experience in airport operations. Soon after, one corporate group won all six airports up for bid.

In 2023, restrictions on solar plants near India's border with Pakistan were gradually eased. Soon after, that same group secured the largest piece of land in that project 

A proposed anti-monopoly safeguard in India's ambitious grain-storage programme was dropped. And once again, that same group emerged as the biggest beneficiary.

One instance could be a coincidence. Two might be good luck. But when the same pattern appears across sectors, it becomes hard to ignore.

The group at the centre of this–if you haven't guessed already–is Adani.

Governments have offered their own justifications for these decisions, and the Adani Group has consistently denied receiving any preferential treatment. I will give you four examples in this episode. And then we can ask: Are we witnessing a remarkable run of business success?

Or are we seeing how political power shapes markets, policy, and opportunity for one group in Modi's India?

Let me explain.

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