New Delhi, Oct 28 Supreme Court advocate Ishkaran Singh Bhandari has said that recent reports by foreign media targeting the Adani Group are part of a larger, coordinated effort to undermine India’s economic growth and private industrial progress.
In a conversation with IANS, Bhandari said this is not the first time such attempts have been made to malign the Adani Group.
“For years, the Adani conglomerate has been repeatedly targeted. These are the same companies that play a crucial role in India’s economic backbone -- operating in key sectors such as ports, airports, and energy,” he said.
“Foreign interests do not want Indian enterprises to gain strength and global recognition in these strategic areas,” he told IANS.
He recalled that the Adani Group had earlier faced similar allegations from Hindenburg Research (which has been shut down), which even led to a Supreme Court-monitored investigation.
“Despite the probe and the formation of a special committee, no evidence of wrongdoing was ever found. Yet, the narrative continues to be pushed for ulterior motives,” Bhandari noted.
Calling the campaign a long-running international conspiracy, he cited examples of global financiers like George Soros, who, according to him, have openly linked Adani-related controversies to political outcomes in India.
“People who don’t even live in India are trying to interfere with our economic stability,” he said.
Bhandari dismissed such reports as “fit for the dustbin,” adding that raising them in Parliament or during election debates serves an “anti-India purpose.”
Defending LIC’s investment in Adani Ports, he said, “If an American company can profit from investing in Mumbai Airport, why can’t LIC invest in Adani Ports? There is nothing questionable about it.”
“LIC’s investment processes are transparent and multi-layered. It has always invested in Indian enterprises -- that’s part of its mandate,” Bhandari mentioned.
He argued that questioning LIC’s investments while ignoring those of foreign investors exposes the hypocrisy behind such criticism.
“India is now the world’s fourth-largest economy. Those trying to weaken LIC’s profitability under the guise of transparency are actually seeking to undermine India’s growth story,” he said.
Bhandari urged citizens and lawmakers to reject “agenda-driven foreign narratives” that attempt to erode confidence in Indian industry and private investment. “These baseless reports are designed to shake faith in India’s economic momentum -- and must be firmly dismissed,” he stated.
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