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the indian economic times reported on the 10th that the congress party, india's main opposition party, criticized the adani group for setting up a subsidiary in china, claiming to be deeply concerned about india's national security and territorial sovereignty. according to the indian economic times, the adani group admitted that a subsidiary headquartered in singapore registered adani energy (shanghai) co., ltd. in china on the 2nd of this month, mainly providing supply chain solutions and project management services. the report quoted the leader of the indian national congress, ramesh, as saying that the adani group's past activities in china and east asia were very suspicious, and as adani deepened its investment in china, modi's attitude towards china changed from "excusing" to "supporting".

ramesh claimed that in the past few years, the overseas investments of the adani group have damaged india's national interests and brought adverse consequences to india. ramesh accused that putting the commercial interests of the adani group above india's foreign policy interests has led to india's unprecedented setbacks on the global stage.

indian prime minister modi profile picture from indian media

in fact, the congress party's criticism of the adani group and the modi government is more due to india's internal political disputes and has little to do with china. the indian economic times said that since hindenburg research, a well-known short-selling agency in the united states, accused the adani group of false transactions and stock price manipulation, the congress party has been criticizing the modi government. congress party chairman harje posted on the social platform x on the 10th that because modi used the securities and exchange commission of india to save "his friend (i.e. adani)", the image of the securities and exchange commission of india as a strong regulator has been tarnished.

analysts said that adani is an important supporter of modi and has benefited greatly from modi's policies. the indian national congress has long targeted adani, essentially to attack modi and portray him as a spokesperson for the chaebol, thereby shaking modi's political foundation.

according to public information reviewed by the global times, adani energy (shanghai) co., ltd. has a registered capital of us$2.1 million and its main business is the production and supply of electricity and heat. the company has not yet started business operations.

lin minwang, a researcher at the center for south asian studies at fudan university, told the global times on the 10th:the congress party's "bombardment" of the adani group is essentially still out of party struggle. the main target is not china, but "playing tricks against the modi government's contradictory attitude towards china policy".: in the past few years, the modi government has been showing strength toward china and threatening to "decouple from the chinese economy", but now the adani group is going to open business in china again.

on the same day that the congress party criticized the adani group for opening a subsidiary in china, indian foreign minister subrahmanyam jaishankar, who had previously talked a lot about the "china issue", said in berlin, germany, "uncharacteristically" that india did not "shut out business from china", and the problem was that india needed to clarify "in which areas it has business dealings with beijing and under what conditions".

global times special correspondent bai yuan global times reporter tang ya