Billionaire Gautam Adani Lands In The Middle Of India-China Fight In Sri Lanka
NDTV
India is reengaging and attempting to tilt the balance in a strategic tussle with China on Sri Lanka, a pivotal battleground because it lies on key global shipping lanes.
A small group of fishermen ply the shallow coastal water along Pooneryn in northern Sri Lanka, an impoverished, remote area within striking distance of India's southern tip. It's where Gautam Adani -- who is Asia's richest man and has vaulted ahead of Jeff Bezos this year -- plans to build renewable power plants, thrusting him into the heart of an international political clash. Privileged to meet President @GotabayaR and PM @PresRajapaksa. In addition to developing Colombo Port's Western Container Terminal, the Adani Group will explore other infrastructure partnerships. India's strong bonds with Sri Lanka are anchored to centuries' old historic ties. pic.twitter.com/noq8A1aLAv
With Sri Lanka in the throes of its worst economic crisis since its independence from Britain in 1948, India is reengaging and attempting to tilt the balance in a strategic tussle with China on the island, a pivotal battleground because it lies on key global shipping lanes and plays into India's fear of encirclement from its Asian rival.
At the forefront of those efforts is Mr Adani, who is a long-time supporter of Prime Minister Narendra Modi, and has been accused by some Sri Lankan lawmakers of signing opaque port and energy deals closely tied to India's interests, something his group has always denied, saying the investments meet Sri Lanka's needs.
Sitting atop a $137 billion wealth pile, Mr Adani controls a sprawling empire that spans ports, coal plants, power generation and distribution.