Gautam Adani enters a conflict between India and China
A small group of fishermen operate in the shallow coastal waters off Pooneryn in northern Sri Lanka, an impoverished, remote region not far from the southernmost tip of India. It’s where Indian billionaire Gautam Adani. Who recently overtook Jeff Bezos as Asia’s richest man, plans to construct renewable energy plants. Pacing him in the middle of a global political conflict.
Sri Lanka has been experiencing a dire economic crisis since gaining independence from Britain in 1948. Owing to its location on crucial global shipping lanes also its ability to feed New Delhi’s concern about being encircled by its Asian rival. India has re-engaged and is attempting to tip the balance in the island’s strategic conflict with China. Adani, a long-time supporter of Indian Prime Minister Narendra Modi. Who Sri Lankan authorities have charged, is at the forefront of these efforts.
Adani, who sit atop a $137 billion fortune, rules over a sprawling empire that includes ports, coal plants, power generation, and distribution.
While Adani makes the vast majority of his wealth in India, he has gradually made more international deals. Also told shareholders in July that he seeks a “broader expansion” beyond India’s borders. With “several” foreign governments approaching his conglomerate to develop their infrastructure.
These actions and Adani’s perceived closeness to Modi’s administration have fueled speculation. That the tycoon could be the cash cow for India’s pushback against China. Whose Belt also Road infrastructure initiative aims to increase Beijing’s influence in strategic countries and on the global stage.
While India lacks its neighbour’s financial muscle. Adani’s investments in countries such as Israel and Sri Lanka compete with Chinese state-owned enterprises.
And it is in Sri Lanka that this tension is most visible. Multiple Indian also Sri Lankan officials told Bloomberg News. That Adani’s investments on the teardrop-shaped island advance the Modi administration’s objectives on the island in the same way that his businesses in ports, power, and cement do at home. Adani has repeatedly denied that Modi’s government gives his companies preferential treatment.
