After accusing the BJP of supporting industrialist Gautam Adani and assaulting it nonstop, the Congress party declined to explain why its Telangana government inked a memorandum of understanding worth Rs 12,000 crore with the Davos-based corporate group. Congressmen appeared to sidestep the topic of why the Telangana administration signed Memorandums of Understanding with Adani during a press conference.
Senior Congress leader P Chidambaram moved the microphone for spokesperson Supriya Shrinate to respond when a journalist questioned why the Telangana government had signed an agreement with the business conglomerate in Davos when the Congress party had been publicly criticising the BJP government over Adani. Supriya, too, declined to respond, stating that inquiries should only be directed towards the manifesto launch, which was the purpose of the press conference.
Notably, the four Memorandums of Understanding (MoUs) worth Rs 12,400 crore that the Telangana government, led by the Congress, signed with the Adani group on January 17th, on the fringes of the World Economic Forum (WEF) 2024 in Davos, Switzerland, left the party leaders red-faced.
The agreements were signed in front of Adani Group Chairman Gautam Adani and Telangana Chief Minister Revanth Reddy, according to a press statement from the Adani Group. The MOUs represent a significant advancement in the region’s efforts to promote inclusive, sustainable, green, and revolutionary economic growth.
Adani Enterprises Limited (AEL) committed to investing more than Rs 5,000 crore over the course of the next five to seven years to build a state-of-the-art 100 MW data centre. Renewable, or “green,” energy sources will power the data center’s operations with a focus on sustainability. It is anticipated that 600 people will benefit from the effort by getting direct and indirect work possibilities. For the project, the AEL will work with nearby startups and micro, small, and medium-sized enterprises (MSMEs) to create a globally competitive supplier base.
Adani Green Energy Limited (AGEL) announced an investment of more than Rs 5,000 crore for the construction of two pump storage projects (PSPs) as part of the second MOU in order to support sustainable energy solutions. At Koyabestagudem and Nacharam, these projects will have 850 MW and 500 MW of capacity, respectively.
Ambuja Cements inked the third Memorandum of Understanding, promising to invest Rs 1,400 crore to build a state-of-the-art 6 million metric tonnes per year (MTPA) cement plant within the next five years. Over 4,000 people will be able to find work at the 70-acre plant, which will boost Ambuja’s manufacturing capacity and provide direct and indirect employment possibilities.
Adani Defence Systems and Technologies Limited has also committed to building anti-drone and anti-missile facilities over the next ten years, spending over Rs 1,000 crore. The investment’s main goal is to create a complete ecosystem for counter-drone and missile system research, development, design, production, and integration.
In addition to providing jobs for more than a thousand people, the Adani Aerospace Park will act as a centre for these vital defence technologies that enhance India’s defence readiness.
The commercial agreements, however, contradict the protracted discrediting campaign launched by Congressmen, such as former president Rahul Gandhi, who charged that the Centre was engaging in crony capitalism by providing preferential treatment to Adani and his businesses.
Notably, Rahul Gandhi claims that Gautam Adani’s wealth increased only as a result of favouritism on the part of the Union and state governments, particularly the BJP, which struck quid pro quo agreements with the business group, sold or leased strategic assets, and opened up new markets exclusively for the business tycoon. He goes on to say that everything is being done illegally in order to benefit the Adani company. By combining the names of PM Modi and Adani, he attempted to link Adani to criminal activity and claim that he was their accomplice.
While Rahul Gandhi and the Congress are formulating a political narrative for the 2024 general elections that centres on attacking Prime Minister Modi and attributing Adani’s economic growth to central government favouritism, their party leaders and alliance partners are still striking deals with the business conglomerate in order to fulfil their election pledges and realise growth ambitions.
