• The Adani business empire has been rocked by global developments in the last week, including continuing losses on the market, the cancelation of the share sale, and moves by foreign investors to clarify their exposure to Adani.
• Mihir Sharma argues that Adani is a “national champion” and that the real fear is that they cannot do what they say they will.
• Arvind Subramanian and Ashoka Mody provide critical perspectives on India’s growth outlook.
• India’s digital infrastructure, known as the “India Stack”, has enabled the incorporation of hundreds of millions of people into the governmental machinery of the Indian state and a national market.
• India’s energy system has been heavily dependent on coal, but PM Modi has committed India to decarbonization by 2070.
• Both the Ambani and Adani groups have seized on the new agenda, promising to make India a hydrogen champion and “indigenising the entire supply chain”.
• Nation-building is the key boast of the Adani group, and it is that model that is at stake in this crisis.
Published February 3, 2023
Visit Chartbook to read Adam Tooze’s original post Chartbook #193 Indian nation-building, Modi and the Adani crisis
