Before the Adani Group's value came crashing down after allegations made by Hindenburg Research, it had clocked a 13-fold rise in 2.5 years by 2022. During this time, it also bagged major international airports, ports, and infrastructure projects across the country, triggering allegations of Gautam Adani's closeness to the ruling party.
But while opposition parties use the Adani fiasco as a beating stick against the central government, non-BJP state governments continue to seek investments from the conglomerate.
Not the first time
After Ashok Gehlot hosted Adani in Rajasthan and NCP's Sharad Pawar stepped forward in his support, the newly elected Congress government in Karnataka is open to investment from the billionaire.
Months before state elections, the Adani Group pledged Rs 1 lakh crore in investments for Karnataka during an investment summit in November 2022.
The state's Industries and Infrastructure Minister MB Patil said that the exact extent of what Adani will invest in Karnataka will be clearer in the next meeting.
He added that when a company wants to set up their business in Karnataka, they will be given time to come up with proposals for the government's consideration.
Rahul Gandhi embarrassed again?
Earlier, Congress leader Rahul Gandhi had slammed Adani and Modi over crony capitalism but said that he is against monopolies and not corporations.
Apart from Congress, Trinamool Congress leader and West Bengal CM Mamata Banerjee had also joined hands with Adani for growth last year, before calling him BJP's best friend this year.
The CPI(M), which rules Kerala, also marched alongside the BJP in their state, in support of Adani's port as it faced protests from locals.
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