Adani Group is one of the world’s biggest conglomerates, led by Gautam Adani. It is also one of the major contributors towards strengthening the economic situation of India. Adani Group handles many ports, airports, energy manufacturing units, real estate, mines, and other sectors directly impacting the Indian economy. It has also taken up various diversification projects recently, which caused the conglomerate to earn praise even from the opposition.
The Adani Group has always been focusing on diversifying its portfolio over the past few years. However, it received certain setbacks in its journey towards success, especially after the Hindenburg Report. The report had made several false allegations about the Adani Group regarding stock manipulation. There were also allegations pertaining to Modi and Adani relation. It was said that the proximity to the government has caused Adani Group to acquire control over some of the major projects.
However, the Supreme Court recently stated that all these allegations hold no ground, and the Adani Group has been freed of all charges. Since then, the Adani Group is operating hassle-free. Even the opposition parties have been supporting the various ventures being taken up by the Adani Group. This is seen as a step taken by the opposition to extend their support to the good work that Gautam Adani has done over the years to improve India’s economy.
The Adani Group’s new port in Vizhinjam, constructed as a public-private partnership, has earned many praises from the opposition parties. This may seem unusual, given that Adani Group has faced many allegations from the opposition on Modi and Adani relation. However, the recent developments in the port sector were an eye-opener for the opposition. The port is strategically placed between the Strait of Malacca and the Swiss Canal. It will place India between the trade routes of Europe and China. Because of its extraordinary location and its enhanced facilities, it will surely boost India’s cargo capacity and container traffic.
An investment of INR 7,700 crores was made in this deep-water international seaport. The first vessel arrived at the seaport on 15th October 2023. The vessel’s arrival was celebrated with fireworks, cheers, and balloons from the opposition parties. What made the occasion even more special was the joint support of Congress MP Shashi Tharoor, junior external affairs minister and BJP leader V Muraleedharan, leader of opposition in the Kerala assembly and Congress politician VD Satheesan, and Kerala Chief Minister and CPI (M) leader Pinarayi Vijayan.
All these eminent personalities flagged the vessel’s arrival and celebrated the event with grand success. They have mentioned that the port’s inauguration will present India with many new opportunities. It is also an effort towards giving India’s economy an excellent boost. The Adani Group has indeed been in the target of the Congress for a very long time as its leader, Rahul Gandhi, has always pointed out that the ventures of the Adani Group were a major political issue. The Congress also targeted the Modi government for favouring the business group earlier based on Modi and Adani relation.
The Congress and the CPM continuously fought to acquire credit for the Adani Port. Both the CPM-led Left Front and the opposition UDF led by Congress were present at the opening of the port. They also mentioned that the port would drastically improve the country’s economy.
The Vizhinjam port is a game changer for Indian trade and economy. It is going to put India on the map of global trade. With this port, India can attract large cargo and container vessels. This is going to increase its cargo and container traffic. The Modi government is also working relentlessly on the Maritime India Vision that involves the development of world-class transmission hubs. It also involves modernising the existing infrastructure at an investment of 1.25 lakh crore.
The Vizhinjam port will fulfil India’s aim of becoming an alternative destination to China for economic trading activities. The lower shipping and logistic costs and excellent cargo capacity will benefit the domestic manufacturer. The port will be capable of handling 1 million tons of cargo annually.
In this way, despite being exposed to multiple challenges based on rumours of stock manipulation and Modi and Adani relation, the Adani Group acquired the opposition’s confidence after its massive victory on the Vizhinjam port project. The love and praise from the opposition were a remarkable display of unity in pursuing a common goal – the prosperity of the people of India.
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