US billionaire investor George Soros this week publicly criticized Prime Minister Narendra Modi for his ties to the crisis-hit Adani group, and also went after the leader’s democratic credentials.
“This will significantly weaken Modi’s grip on the Indian government and open the door for much-needed institutional reforms. I may be naive, but I hope for a democratic renaissance in India,” Soros said.
Soros, in a speech at the Munich Security Conference on Thursday, said Modi “would have to answer questions” from foreign investors and parliament about the allegations facing the Adani group.
His speech provoked strong reactions. The ruling BJP said Soros was not only targeting the prime minister but also the Indian democratic system. This war is being waged against India and what stands between the war and India’s interests is Modi, BJP leader and union minister Smriti Irani told reporters. “Everyone should condemn his comments in unison.”
Who is George Soros?
George Soros is a Hungarian-American philanthropist and businessman. He was born in Hungary in 1930 and lived through the 1944-1945 Nazi occupation, according to details available on his website.
He is known in the UK as the man who broke the Bank of England by betting against the pound sterling. A Forbes report indicated that Soros shorted the sterling in 1992 and reportedly made a $1 billion profit.
According to his website, he founded the Open Society Foundations, which is a network of foundations, partners, and projects in more than 100 countries. “He has donated more than $32 billion of his personal fortune to fund the work of Open Society Foundations around the world,” the website said.
Among those the foundation supported are individuals and organizations around the world who fight for free expression, accountable government, and societies that promote justice and equality, the website said.
“The foundations have also provided school and college tuition for thousands of promising students who would otherwise have been locked out of opportunities because of their identity or where they live,” he added.
What did he say about PM Modi?
In a speech at the Munich Security Conference on Thursday, Soros said Modi “would have to answer questions” from foreign investors and parliament about the allegations facing the Adani group. He stated: “Modi and business tycoon Adani are close allies; their fate is intertwined.”
“Adani is accused of stock manipulation and his stock collapsed like a house of cards. Modi is silent on the issue, but he will have to answer questions from foreign investors and in Parliament,” Soros added without any evidence to his claim.
This is not the first time that Soros has spoken out against India and Prime Minister Modi. Also in 2020, he criticized the current Indian government while addressing an event at the World Economic Forum (WEF) in Davos, saying that nationalism was advancing and that is the “biggest setback” for India.
- What Hindenburg research report say about Adani?
- Know about Adani’s CFO Jugeshinder Singh?
- Know about London’s Elara Capital’s connection with Adani
Follow Ground Report for Climate Change and Under-Reported issues in India. Connect with us on Facebook, Twitter, Koo App, Instagram, Whatsapp and YouTube. Write us on GReport2018@gmail.com.