Ashish Ranjan
George Soros Row: In response to billionaire investor George Soros’ criticism of Prime Minister Narendra Modi and questions about Hindenburg Research’s report on industrialist Gautam Adani, senior Congress leader P Chidambaram stated that he does not agree with the majority of what George Soros has said in the past, nor with the majority of what he says now.
Mr. Chidambaram posted on Twitter, “I did not agree with the majority of George Soros’s earlier statements, and I do not agree with the majority of his current statements. However, to characterise his words as a “effort to overthrow the democratically elected government in India” is an absurd claim.”
Mr. Soros stated on Thursday at the Munich Security Conference that the stock crash of business magnate and reported close associate Gautam Adani would weaken Prime Minister Narendra Modi, “opening the path” to a democratic renaissance in the country.
In a series of tweets sent from his official account on Saturday, the leader stated that the Indian people will decide who will be in and who will be out of the Indian government. He also stated, “I had no idea that the Modi government was so weak that it could be toppled by the stray statement of a 92-year-old wealthy foreign national.”
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
— P. Chidambaram (@PChidambaram_IN) February 18, 2023
In another tweet, he suggested ignoring George Soros and instead listening to Nouriel Roubini. According to Mr. Chidambaram’s tweet, Roubini cautioned that India is “increasingly dominated by massive private conglomerates with the ability to stifle competition and eliminate new entrants.”
New York-based Roubini Macro Associates is led by Nouriel Roubini as chief executive officer. According to nourielroubini.com, he is also the chief economist at Atlas Capital Team LP and co-founder of Rosa and Roubini Associates. In a speech to the International Monetary Fund in 2006, Mr. Roubini warned of the impending recession caused by the credit and housing market bubbles.
In one of his tweets and in continuation of this thread, the leader of the Congress stated, “Liberalization was intended to usher in a competitive, open economy. The policies of the Modi administration have generated oligopolies.”
The 92-year-old billionaire philanthropist stated in a Thursday address that PM Modi would “had to answer questions” from international investors and Parliament regarding suspicions of fraud and stock manipulation at Mr. Adani’s industrial empire, noting that PM Modi had been “quiet” on the subject.
Also Read | George Soros: All You Need To Know | 10 Points
The BJP condemned Mr. Soros’s remarks Tuesday, calling them a “declaration to destroy India’s democratic processes.”
Since US short-seller Hindenburg Research accused Adani Group of decades-long “blatant stock manipulation and accounting fraud,” the business has been under intense investigation. The Adani Group has rejected the charges as without merit.
