BENGALURU -- The woes engulfing India's Adani Group are putting the brakes on the conglomerate's rapid, debt-fueled expansion, handing competitors opportunities to step on the gas as New Delhi drives ahead with plans to build world-class infrastructure and transform the country into a $5 trillion economy.
The group's market value has plunged by around $130 billion since a U.S. short-seller in January accused it of "brazen stock market manipulation" and a host of other wrongdoing. The fallout is set to push Adani -- which has vigorously denied all the allegations -- to rein in growth as many of its usual funding channels dry up.
