The Rise Of Gautam Adani


wealthymattersIn September 2003, about a year after Gujarat was ravaged by communal riots under Modi’s watch, the chief minister was seeking approval from the business community. Thus was born the ‘Vibrant Gujarat Summit’, the investment jamboree that Modi has made a biennial political statement since. Back then, though, it was a tentative idea, rising from the ashes of a polarised state and a leader seeking validation.

Some leaders of the Confederation of Indian Industry (CII), the country’s main industry grouping, had criticised Modi for the riots and told him that it would be hard for the state to pull in investments. He needed to prove them wrong,Companies were called to announce large investments in the state. While everyone expected the Ruias and Reliance to make large announcements, Adani surprised everyone by announcing a 15,000 crore investment.

Any reference—good or bad—to Gautam Adani’s sprawling business empire is rarely unaccompanied by his alleged proximity to Narendra Modi, the man who could be prime minister in 2014.There are parallels between the two. Both have their roots in Gujarat. Both have bloomed in their respective spheres in the past decade. Both have created a deep imprint at the state level and are restless for a national footprint. That is the ‘now’. Read more of this post

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