George Soros - Modi is Target . Adani is Side show - Col Virendra Kumar

Modi will have to answer in parliament: George Soros, who pledged $1B to take on ‘nationalists’ including PM Modi’, comments on Adani row

NewsBharati    18-Feb-2023 12:59:54 PM   
Total Views |

How would any body react in India or USA if any Indian business analysis company make a disclosure about unfair or nefarious practices by a USA MNC in New York Stock exchange?
Let us move ahead. 
Let us take some one from Indian industry who heads some NGO’s also make a statement about internal political dynamics of US, particularly against some political outfit, spends money through nefarious and doubtful means and indirectly makes an effort to change or destabilise the govt or its leader?

Hindenburg Report  
It sounds so unusual but US private companies are doing just that in India. So why should they do that?
Most of the Indians are not even aware of these events which are unfolding in India as part of toolkit. Hindenburg report is just one of many, put the BBC report in the same league. Some more tools will be opening up one by one, in alignment with each other to make the desired impact in India. What is the desired impact? Desired impact is to change the Indian govt and its leadership to put a pliable leader in place. 2024 elections in India are the next opportunity for them. Incidentally every action is taken for the benefit of Indians only. All efforts are made to change the perception of Indians. After all, social media is for that purpose only and it has power. 
So, who is George Soros? What is his interest and influence in India. His problem is nationalism in India and collaborators are leftists and liberals who can not see India becoming a super power in its own right. Nationalism in India is a big threat to so many including China and Western block. How can a third world country have own national esteem and talk of strategic autonomy.
Modi will have to answer in parliament: George Soros, who pledged $1B to take on ‘nationalists’ including PM Modi’, comments on Adani row
In the last few decades, George Soros has time and again shown his desperation to wage war against the nationalist government in India through various networks funded by him comprising NGOs, media, intelligentsia, etc.
So, what is the interest of George Soros in Hindenburg report? No body in capitalist system spends money just to help someone. He is trying to dictate Modi, Parliament of India and executive in one interview? Is he sending the message to Congress and liberals to ensure that?
Hindenburg Report
Whether we like or not, Hindenburg report is going to dominate the discourse of Indian WhatsApp university in particular and social media in general for a long time to come. Credentials and bad intentions of Hindenburg notwithstanding, people generally understood the game plan of the company as per the political affiliations. Hindenburg website which says that company is into focused short selling, made no difference to the opinion of people. BJP supporters stood by the Adani group and Indian institutions while Congress and others saw it as a golden opportunity to pin down the govt on this issue, probably make an effort to identify Modi and Adani in the same breath, thus damaging credibility of Modi, most potent weapon in the BJP armoury. If you see statement of George Soros, you cannot miss this line.
Most of the political watchers do say that the entire effort was targeted at the Indian equity market because the report not only affected Adani shares but also Indian equity market as a whole. Overall investment sentiment was brought down as the budget session of parliament started.
Adani spokesperson also stated the same but as usual opposition parties jumped over with the plea that how a business empire can be equated with the state. A legitimate question indeed though without any legitimate concern for our business activity.
Any successful businessman will invite envy, more so if he has been successful in short span of time. How can a businessman be so successful while using the public money, most of which remain poor? Businessman has to be corrupt and has to be involved with illegitimate activity otherwise how can he be so rich in such a short time? May be that govt is favouring him with undue favouritism because he must be financing the ruling political parties? He must be hoodwinking the system and that includes our regulatory and compliance agencies as well, SEBI and RBI primarily. Surprisingly same arguments were made against Dhirubhai Ambani who had strong connections with Congress party and in Ministry of finance. He got policy changes done through his cronies in the ministry.
Now the target is Adani, tomorrow it can be Ambani and even TATA. How the state should respond to it? How the share holders of company should respond to it? Should the state support be given to the businessman as per his political affiliations or to all of them as per the state policy specially when threat is external but ramifications are internal and external as happened in this case. Expansion plans of Indian industry is definitely influenced due to the report of Hindenburg.
Incidentally, Adani is in no position to drag Hindenburg to Indian legal system or even if it is, the damage is done and wealth in equity market is lost. It is an unequal battle. Should India not protect its legitimate business enterprises. What is the purpose of social contract?
Is Adani in the same league as Tata or even Ambani in terms of social capital. The answer is NO. Adani must be 35 years legacy while Tata’s legacy must be 155 years old, while Reliance is just 55 years old. Tata group employs 935000 employees while Reliance employs 300000 employees. Adani group employs 23000 people only. So, social base is narrow in comparison to Tata or Reliance. No of shareholders or stakeholders in Adani group has to be much smaller too.
There is no doubt that Tata has got big social base and big brand value in India. People recognise Tata as employee friendly and socially conscious company. Ratan Tata should get BHARAT RATNA also but what would have been public or political reaction in this country if Hindenburg would have reported against any of Tata company listed in share market? All old hands of share market know that Dhirubhai Ambani was master of share market and manipulated the prices too. Hindenburg may try the same trick against these companies because it is into the business of short selling directly or indirectly.
Adani empire or brand will never be at part with Tata unless it comes into consumer market. Adani till now is into infrastructure projects whether company deals with limited segment of society so its social capital will always be narrow. Now, second question comes, how it has grown too fast? Does it mean that it has to be unethical or can it override the regulatory or compliance agencies? Tomorrow with a new business model, one may find so many companies which may grow very fast. E commerce companies are just one example. Flipkart net-worth is almost 40 billion dollars in 15 years only.
We have to decide what is our economic model? Are we interested to have socialism / communism like China/ capitalism like USA / Welfare state like European nations or our own system, based on our own social, political and security requirement? We ought to have free markets to generate wealth. This country can not sustain without wealth generation. If you have to generate wealth, you ought to protect your business houses, provide opportunities for business and resources too. Have checks and balances in the system but stop treating the wealth creators like thieves while expecting them to pay taxes in an honest way. Role of the state is to protect legitimate activity and punish illegitimate activity and same must be applied for all business people. Businessmen and politicians have moved together in a symbiotic way. There is no criminality in this unless proved otherwise. All political leaderships have been identified with business people. Move to ostracise Adani just because he has been closer to BJP is going to back fire sooner than later. Simultaneously our economic system and equity market will be loser if we can not protect our legitimate business activity.
Let us be very clear about it. George Fernandes specially targeted Coca Cola and IBM, both are back in India. Tata faced problems in Bangladesh, GMR in Maldives, Dabur group in Nepal and Adani in Sri Lanka and of course our govt supported them. All foreign govts protect their own companies. Just look at the tweets of France President, British PM and US President on Air India order for Airbus / Boeings and understand the game of international business or be prepared to lose the development bus once again.

India is not going to miss growth bus this time, come what may, Hindenburg or no Hindenburg, George Soros or no George Soros? We understand the game now.

Col Virendra Kumar

Col Virendra Kumar, a Military Veteran with 27 years of Army , alumni of Pantnagar, IIM Bangalore , Symbiosis Pune ,wears multiple hats . He has got national and international exposure during his Army tenures and corporate stint with leading US MNC He is passionate about Military history , Indian history , national and international affairs .