The third-richest man in the world had high hopes for India’s future. India is developing quickly, according to Adani. India’s GDP reached $1 trillion after 58 years of independence, $2 trillion after another 12 years, and $3 trillion today after 5 years. Currently, India is in a situation where its economy can reach $30 trillion by 2050. Naturally, both the per capita income and employment prospects will rise. India will be unstoppable in the upcoming years.Aap Ki Adalat: Gautam Adani faces tough questions in no-holds-barred interview with Rajat Sharma

For the first time, the richest industrialist in India, Gautam Adani, has responded in-depth to Rahul Gandhi’s accusations that the Modi administration has been favoring the Adani group in decisions involving bank loans and infrastructure projects.

Adani stated in a candid interview that will air at 10 p.m. tonight on India TV’s AAP KI ADALAT with Rajat Sharma: “Rahul Ji is a renowned leader” (sammaniya neta). He also seeks advancement. He may be expressing political emotion in his comments, but I don’t consider them as anything more than “political bayaan-baazi” (political statements).

Adani joked with Rajat Sharma, telling him not to keep bringing up Rahul Ji since doing so will cause us to argue, and he might make another comment the next day. Rahul Ji is a “sammaniya neta” in my opinion. He has a political party to lead. They engage in an ideological conflict when accusations and denials are levelled. I’m just a regular industrialist (sammaniya udyogpati). I’m working on my tasks. He practises politics in his unique way.

According to Adani, few people, especially in North India, had heard of him before 2014. We’re from Gujarat, and everyone there know us. Rahul Ji relentlessly attacked us both during and after the 2014 elections. As a result, people here came to know who was Adani, and that is why, I am sitting here (in the dock of Aap Ki Adalat).”

When asked about the assistance he received from Narendra Modi while he served as Gujarat’s Chief Minister, Gautam Adani said, “I got three significant breaks in my life. First, during the Rajiv Gandhi administration, when the Exim policy enabled our company to become a global trading house. Second, during the 12-year rule of Gujarat under Narendra Modi, when P.V. Narasimha Rao and Dr. Manmohan Singh opened up the economy and we entered into the public-private partnership mode. It was a very positive experience, and I can say that with pride. But I want you to know that Modi Ji will never personally assist you. You can talk about him about national-interest policies, but once a policy is written, it affects everyone, not just the Adani group.

Adani responded in detail to claims regarding bank loans, projects, the discovery of drugs at Mundra Airport, and farm laws.

Gautam Adani responded to Rahul Gandhi’s claim that the Adani company has acquired the majority of ports, airports, and other infrastructure projects by saying, “We did not get a single project without bidding. No project is touched by our Adani group without a competitive offer, whether it be for a port, an airport, roads, or a power plant. Not a single claim that we “managed” the bidding has been made. Even Rahul Ji has not claimed that the bidding process was tampered with.

Regarding Rahul Gandhi’s claim that the Adani Group received bank loans totaling Rs 2 lakh crore from deposits made by customers, Adani responded, “Any infra project involves equity and bank credit, which is typically 40:60 in nature. Ratings provide a profile of the debtors. Only the Adani group of firms in India has ratings that are on par with those of the country as a whole. Before assigning a rating, independent rating organisations do thorough financial analysis; banks then make loans based on this information. Our group is so disciplined that in our 25-year-old history, we have not made even a day’s delay in payment. We used to borrow 80% of our money from Indian banks before 2013, when the interest rate increased to 35%. With a global rating, we entered the global market. As you are aware, no one from India can request a loan from the international markets. Such claims (that the Modi administration asked banks for loans) are unfounded. Such accusations are made due to political pressure, but the issue is between the lenders and the borrowers. On this score, there has been no difficulty. Our debts increased by 11% during the last 7-8 years while our income increased by 24%. Our rating rose as a result of our profitability. Our profitability currently exceeds our borrowings.

When Rajat Sharma questioned Gautam Adani about whether “many banks may fall if the Adani balloon bursts,” the businessman’s response was, “This may be the wish of certain critics, but I can assure you that Adani group’s assets are three to four times our borrowings. Nobody’s funds are not at risk.

Adani responded to Rajat Sharma’s question, “What if the balloon bursts?,” by saying, “As long as India advances, this balloon will move forward.” India jab tak aagey badhta rahega, yeh gubbara aagey chalta rahega (translated into Hindi)

Rahul Gandhi said that despite the seizure of drugs valued at Rs 20,000 crore at Mundra port in 2021, Rs 5,000 crore in May 2022, and Rs 375 crore in July 2022, the government was doing nothing. Adani responded, “The role of port operator is limited to cargo operations. We lack the authority to enforce law or make arrests. Various governmental entities carry out this. They merely want to deceive people. It’s not just from our port that drugs are smuggled. Even through airports, they enter. After narcotics seizures at our port, federal authorities conduct thorough 360-degree investigations. People are questioned. Paperwork related to seizures is only finished following interrogations. The Adani group didn’t seem to receive any special treatment, in my opinion.

When asked about the slogan of the Congress party, “Aam Aadmi behaal, Adani maalamaal,” Gautam Adani retorted, “Look, whatever political story one may try to build, in the end, tell us, where is the allegation? The first is a political assertion, whereas the second is a true allegation. Let the populace choose what the truth is.

Regarding the Adani Group’s Rs 68,000 crore investment in Rajasthan, which is governed by the Congress, Gautam Adani said: “Investment is our standard programme. On Chief Minister Ashok Gehlot’s invitation, I attended the Rajasthan Investors Summit. Later, even Rahul Ji commended our Rajasthan investment. I am aware that Rahul’s policies do not hinder development. In every state, we want to invest the most possible. The Adani Group is extremely pleased that it now operates in 22 states, none of which are governed by the BJP. I can categorically state that we have no issues with any state governments. Even in the Left-ruled state of Kerala, Mamata Didi’s West Bengal, Naveen Patnaik Ji’s Odisha, Jaganmohan Reddy’s state, and even KCR’s state, we are still active.

When Rajat Sharma questioned Gautam Adani on the legitimacy of the opposition parties’ claims that Modi is Adani’s “chowkidar,” Adani responded, “Very few people who have trouble with Modi Ji, or because of ideological jostling, say such things. I can only conclude from my personal experience that most people approve of Modi Ji and Adani’s growth strategy. They don’t identify any issues.