E-Paper
Smriti Irani slams George Soros for his ‘revival of democracy’ remark
The Union minister urged everyone to ‘denounce the intention’ of Soros, alleging that he ‘brings an onslaught to the economy of India’ for his ‘personal gain’.
Union minister Smriti Irani attacked billionaire investor George Soros for his speech ahead of the Munich Security Conference where he said expected a ‘democratic revival in India’ in the wake of the Hindenburg report alleging Adani Group of ‘stock manipulation’ among other claims. At a press conference, Irani urged everyone to ‘denounce the intention’ of Soros, alleging that he ‘brings an onslaught to the economy of India’ for his ‘personal gain’.
Also read: Adani crisis to spark democratic revival in India, says George Soros
“Those, who Soros finds pliable, need to know that India has defeated imperialistic designs before and shall do so again…As a karyakarta of the Bharatiya Janata Party (BJP), these designs to weaken Indian democracy will be met with a might of India under the leadership of Prime Minister Narendra Modi,” she said.
On Thursday, Soros predicted that PM Modi's government will be ‘weakened’ amid Adani Group's fallout followed by the Hindenburg report and the PM's alleged ‘ties’ with Gautam Adani, which will ‘open the door’ to a democratic revival in the country. “Modi is silent on the subject, but he will have to answer questions from foreign investors and in parliament,” the 92-year-old billionaire said in his speech, adding that he ‘expects a revival of democracy in India’.
Responding to his remarks, the Union minister said Soros wants a government that is ‘pliable to his needs’. “It is more than evident from his statement that George Soros wants a government that is pliable to his needs. That he has announced funding of over a billion dollars to target leaders like PM Modi is significant,” she added.
Also read: Did Adani stock rout, $130bn loss scare India's small investors?
Adani Group has lost around $120 billion in market value since the report by US-based short-seller Hindenburg broke. The Adani Group has denied allegations of 'brazen stock manipulation and accounting fraud... over the course of decades' and has since sought to reassure investors, emphasising a 'very healthy' balance sheet amid concerns of an overlarge debt.
The crisis that has engulfed the Adani Group has also started a political row in India, with opposition parties, including the Congress, targeting the ruling Bharatiya Janata Party for having 'favoured' Adani, who is from PM Modi's home state of Gujarat.
