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Campaign against #Adani sets dangerous precedent for public accountability and foreign investment in India and challenges India's Global Credibility:
A tweet thread🧵
A tweet thread🧵
The campaign is driven by presumptions of Modi's proximity to Adani and perceived loss of public money invested in Adani Group of companies.
The campaign treats the Hindenburg report as an absolute truth without questioning its veracity or intention.
The campaign doesn't take into account the impact of Hindenburg's report on India's economy, financial stability, and credit.
The campaign does not press for regulatory reform to improve the integrity, transparency, and fairness of securities markets.
Despite India having a comprehensive mechanism to regulate the market and prohibit fraudulent and unfair practices, market manipulation continues to occur.
The campaign's inaction to come out with a bill or any paper to reform the existing regulatory framework raises serious questions about its intention.
The fallout has affected not only the Adani Group but also state-owned institutions like SBI and LIC, causing them to lose billions of dollars in market capitalization.
The campaign had done more harm than good, not only to @gautam_adani Group of companies but also to India's economic and financial regulators.
The campaign sets a dangerous precedent towards public accountability where unverified allegations can lead to significant losses of public money.
The success of India's economic growth in recent years has been closely tied to its openness to the global market.
It is imperative that public officials take steps to ensure that any investigation into potential wrongdoing is fair and impartial.
Any campaign that undermines India's progress towards globalization and foreign investment risks derailing its economic growth.
The campaign will jeopardize global faith in India's businesses, economic, financial, and security regulators.
India's global credibility and public money are at risk due to a defective campaign against Adani.
@narendramodi
@nsitharaman
@RahulGandhi
@MahuaMoitra
@SanjayAzadSln
@AdaniOnline
@narendramodi
@nsitharaman
@RahulGandhi
@MahuaMoitra
@SanjayAzadSln
@AdaniOnline
My opinion for @TheQuint. thequint.com/opinion/defect…
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