i might be the only one to think this, but the relationship between Adani and the current administration (mainly the PM) has been an open secret. iirc the book "billionaire raj" (2018) also talks about this.
besides the shady ways of raising initial capital, the main crux of the issue with the rise of both Ambani and Adani empires rely on getting favours from local administration. Adani was able to catapult to a big position in the country because of winning contracts from the state administration when the current PM was the CM of the state.
for now, this remains the reality for those who want to set up conglomerates in the country, especially involving infrastructure and commodities.
besides the shady ways of raising initial capital, the main crux of the issue with the rise of both Ambani and Adani empires rely on getting favours from local administration. Adani was able to catapult to a big position in the country because of winning contracts from the state administration when the current PM was the CM of the state.
for now, this remains the reality for those who want to set up conglomerates in the country, especially involving infrastructure and commodities.