Adani GroupAdani woes spark opportunity for rivals in Indian infrastructure push
'Definitely an empty space' for competitors to fill, analyst says
The Adani 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 conglomerate has denied the allegations. © Getty Images
SAYAN CHAKRABORTY, Nikkei staff writer
March 7, 2023 16:54 JST
Updated on March 7, 2023 17:53 JST
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.