Explained: What Is the Rs 20,000 Crore Figure Rahul Gandhi Spoke of in Adani’s 'Shell Companies'?

 

Rahul Gandhi is not pulling the Rs. 20,000 crore rupees number out of thin air, but he is quoting a Financial Times expose on the Adani companies, which says how almost half of all foreign direct investment into Gautam Adani’s conglomerate in recent years came from offshore entities linked to his family, highlighting the role of hard-to-scrutinise money flows in financing the Indian tycoon’s business empire. Simply put, the FT analysis shows that the foreign investment of $2.6 billion dollars or 20,000 crore rupees into the Adani companies came from offshore shell companies. Not just that, The analysis concluded that the total amount of opaque overseas investments in Adani companies was an underestimation and the actual value will be higher since official FDI numbers in India exclude foreign portfolio investments.  Watch the video to understand What Is the Rs 20,000 Crore Figure Rahul Gandhi Spoke of in Adani’s 'Shell Companies'? Join The Wire's Youtube Membership and get exclusive content, member-only emojis, live interaction with The Wire's founders, editors and reporters and much more. Memberships to The Wire Crew start at Rs 89/month. https://www.youtube.com/channel/UChWtJey46brNr7qHQpN6KLQ/join