Do not agree but…: P Chidambaram on George Soros' India's democratic revival comment
1 min read . Updated: 18 Feb 2023, 09:24 AM IST
Premium- George Soros believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government - a statement which was strongly countered by BJP as an attack on Indian democracy
Congress MP and former Union minister P Chidambaram on Saturday reacted sharply on a billionaire philanthropist George Soros's comment in which he said the turmoil at Adani may open the door to a democratic revival in the country.
Chidambaram in a tweet wrote, "I did not agree with most of what George Soros had said in the past and I do not agree with most of what he says now But to label his remarks as an "attempt to topple the democratically elected government in India" is a puerile statement.
In another tweet he wrote," The people of India will determine who will be in and who will be out of the government of India. I did not know that the Modi government was so feeble that it can be toppled by the stray statement of a 92 year old rich foreign national.
In another tweet, the Congress leader wrote," Ignore George Soros and listen to Nouriel Roubini. Roubini warned that India is "increasingly driven by large private conglomerates that can potentially hamper competition and kill new entrants" “Liberalisation was to usher in an open, competitive economy. The Modi government's policies have created oligopolies."
George Soros believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government - a statement which was strongly countered by BJP as an attack on Indian democracy.
Adani group has been under severe pressure since the US short-seller Hindenburg Research on January 24, accused it of accounting fraud and stock manipulation, allegations that the conglomerate has denied as "malicious", "baseless" and a "calculated attack on India".
While listed companies of the group lost over USD 125 billion in market value in three weeks, opposition parties inside and outside Parliament attacked the BJP government for the meteoric rise of the ports-to-energy conglomerate. Stocks of most group firms have risen in the last couple of days.
Soros, in a speech at the Munich Security Conference on Thursday, said Modi would "have to answer questions" from foreign investors and Parliament on allegations the Adani group is facing.
*with agency inputs