The Adani Group has 7 publicly listed entities, including in defence. The group is now India's third largest conglomerate after Reliance Industries and the Tata Group.
Ambani is aiming for consumers while Adani is sticking mostly to infrastructure, which helps India generate fiscal resources by monetising public assets and also as a foreign-policy tool.
Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. While Ambani is snapping up distressed crude-oil cargoes at discounts to feed Reliance's refining complex.
Holcim’s sale of its Indian business is expected to close in second half of 2022. Adani Group beat other firms, including JSW Group, to become India's 2nd biggest cement manufacturer.
Scaling up the media business will give Adani a meaningful presence in an industry where Mukesh Ambani has already made his mark through his Network18 Media & Investments Ltd.
The appeal comes before a national election on 21 May in which the role of coal, the nation’s second-biggest commodity export, is again the focus of debate.
Discussions over investments in Deocha-Pachami coal mining project were also held in meeting, held 2 months before state govt's annual global business summit, a govt official says.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
COMMENTS