Another twist in the Adani tale. As reported by The Financial Times, George Soros, the Hungarian-American businessman, spoke on the recent Adani stock market crisis.

In a speech earlier this week, Soros remarked that the Adani crisis will weaken the Narendra Modi regime, and will ‘open the door’ to a democratic revival in the country. 

Soros further remarked that Modi would have to answer questions from foreign investors and parliament on allegations of fraud and stock manipulation, as per the report. He also said that Modi was no democrat and inciting violence against Muslims was an important factor in his meteoric rise. 

Soros also complained against India buying cheap Russian crude. Soros’ comments largely validate the existence of a larger conspiracy to derail the Modi government.

Adani Enterprises suffered a stock market rout after an American group, infamous for its short-selling practices, attacked the Indian conglomerate, citing fraud, high debt, and closeness to the government. 

The opposition was quick to latch on to the Adani crisis, with many questioning the financial health of the public sector banks and Life Insurance Corporation of India (LIC). While both SBI and LIC affirmed that their exposure to Adani enterprises was not concerning, the Congress leaders claimed that both SBI and LIC were at risk of insolvency. 

In 2020, the billionaire financier, had unveiled his plan to set up a $1billion fund to build a global network of higher educational institutions by targeting students through various awareness and outreach initiatives to fight the resurgent nationalism around the world. 

Back in 2020, Soros had identified the rising populism internationally as a huge threat and specifically mounted an attack on US president Donald Trump as well as China’s Xi Jinping, Indian prime minister Narendra Modi — and Brexit.

Soros is infamous for operating in several countries with strategic interests through designated funds. The fund is operated through the controversial organisation he founded — Open Society Foundations. The organisation is to nurture partnerships between leading universities, think tanks and cultural institutions across the world.