Where does the fallout from the Adani crisis take India now?
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Where does the fallout from the Adani crisis take India now?

Congress protest against investments in Adani Group in New Delhi
Photo: Reuters

A two-week period saw Adani Group attacked by a short seller, abandon a $2.5 billion share offer and lose $100 billion in market value. What next? And what does it mean for Modi’s India?

Perhaps it was the moment dozens of parliamentarians took to the grounds of New Delhi’s parliament with placards and chants when it really became clear that the Adani crisis had grown beyond one company’s credibility.

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In front of a statue of Mahatma Gandhi, with a sign the width of a bus saying: 'We Demand JPC or SC Monitored Probe on ADANI SCANDAL' (Indian protest slogans do tend toward the verbose), the MPs shouted long and hard enough to adjourn both houses of India’s parliament.



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Asia correspondent Euromoney
Chris Wright is Euromoney’s Asia correspondent. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written three books.
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