Government breaks the silence over the controversial remarks made by George Soros and opposition to adding on to the matter as well.
While addressing the Technical University of Munich (TUM), an official side event of the Munich Security Conference, on 16th February the Hungarian-American businessman and philanthropist George Soros criticised Prime Minister Modi for neglect towards the Hindenburg-Adani saga. He accused the government of being silent and not taking necessary actions as and when necessary.
He stated that Modi and Adani had been close allies, and thus Modi will have to answer questions raised by the foreign investors and in parliament. He also claimed that the turbulence in the Indian stock market will create an atmosphere of ‘domestic revival’ and result in much-needed institutional reform. Soros under various allegations questioned the integrity of PM Modi and criticised the ‘friendly relations’ between the Adani group and the government.
On January 24, a US short seller, Hindenburg Research, published a report accusing Indian entrepreneur Gautam Adani and his group of companies of malpractices and manipulation of their financial records. The conglomerate denied the accusation and called it a very calculated attack on India.
In reverting to the Hindenburg report, a 413-page reply was published by the Indian conglomerate addressing Hindenburg, which did nothing more than fuel the fire of the Hindenburg-Adani saga. The listed companies of the Adani Group lost more than $125 million due to the allegation, while the media and opposition questioned the government over the silence from their side and neglect from the authorities.
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What does Soros have to say?
Soros’ speech targeted not only the ruling government but also the Indian democratic system. He accused PM Modi of creating a strange atmosphere of creating India as a Hindu nationalist state leading the country to its biggest and most frightening setback.
“This will significantly weaken Modi’s stranglehold on India’s federal government and open the door to push for much-needed institutional reforms,” he said. “I may be naïve, but I expect a democratic revival in India.” His comments drew a sharp reaction from the ruling establishment. Commenting further on PM Modi and his government, Soros accused India of buying cheap Russian oil and making a lot of money out of it. Soros believes that the Adani issue has hampered investment opportunities in India. He strongly trusts that PM Modi is not a Democrat.
The government responds
As soon as Soros’s comments came to light, the government reverted back as strongly as allegations were being made. In a press conference addressed by Bharatiya Janata Party leader and Union Minister Smriti Irani said that everyone should condemn his remarks in one voice since the main objective is to target the country and violate the integrity of the Modi government. She further accused Soros of funding one billion US dollars to intervene with the democratic systems of several countries, including India. This funding goes to several NGOs to impede the country’s global image.
These accusations made were closely followed by India’s emergence as the fifth largest economy, as Irani claims. While addressing the conference, she laid charges against Soros for being willing to run the country by his few hand-picked favourites.
This isn’t the first time George Soros has been blamed for intervening in the working of foreign countries. He was earlier accused of playing a crucial role in breaking the Bank of England. Irani commented that he is designated as an economic war criminal and now has moved forward with a desire to break the Indian democracy. Irani said addressing the ministers that Soros an international entrepreneur is clearly declaring his ill intentions to intervene in the democratic processes of the country.
The opposition reacts
Add to the situation Congress’s general secretary Jairam Ramesh tweeted saying that this is an internal matter of the country. It is the choice and decision of Congress, other opposition parties and the electoral process on how are they willing to deal with the crisis. The legacy of India’s first Prime Minister, Nehru, as a Congress leader has ensured that Soros does not get to have a say in the matter. The opinions and actions depend entirely on the grand old party, and people like George Soros cannot determine the way electoral proceedings work in the country.