Gautam Adani was the world’s third richest man in January. Having surpassed billionaires Jeff Bezos, Bill Gates and Mukesh Ambani in the world’s richest list, the chairman of the Adani group seemed unstoppable on the stock markets. But then Hindenburg Research struck the group with its damning report, calling the rise of Adani as one of the biggest corporate cons in history. Within days stocks of Adani companies started crashing.
A New Lagaan On India Inc.
There is a new Frankenstein monster in India in the form of the ESG regime. The government is pushing ill-equipped businesses to adopt an expensive philosophy of corporate governance and climate reporting that makes India an unequal partner in global trade. For the time being, corporate India is gasping for ways to stay relevant