Adani Group is an Indian multinational

conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** ...

, headquartered in

Ahmedabad Ahmedabad ( ; Gujarati: Amdavad ) is the most populous city in the Indian state of Gujarat. It is the administrative headquarters of the Ahmedabad district and the seat of the Gujarat High Court. Ahmedabad's population of 5,570,585 (per ...

. It was founded by

Gautam Adani Gautam Shantilal Adani (born 24 June 1962) is an Indian billionaire industrialist who is the chairman and founder of Adani Group, a multinational conglomerate involved in port development and operations in India. He is also the president of A ...

in 1988 as a commodity trading business, with the flagship company Adani Enterprises. The Group's diverse businesses include

port management Port management involves the management of ports. Larger ports According to a syllabus of the United Nations University: :Large ports need to deal with a number of disparate activities: the movement of ships, containers, and other cargo, the ...

electric power Electric power is the rate at which electrical energy is transferred by an electric circuit. The SI unit of power is the watt, one joule per second. Standard prefixes apply to watts as with other SI units: thousands, millions and billions ...

generation A generation refers to all of the people born and living at about the same time, regarded collectively. It can also be described as, "the average period, generally considered to be about 20–⁠30 years, during which children are born and gr ...

and

transmission Transmission may refer to: Medicine, science and technology * Power transmission ** Electric power transmission ** Propulsion transmission, technology allowing controlled application of power *** Automatic transmission *** Manual transmission ** ...

renewable energy Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...

mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the econom ...

, airport operations,

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...

food processing Food processing is the transformation of agricultural products into food, or of one form of food into other forms. Food processing includes many forms of processing foods, from grinding grain to make raw flour to home cooking to complex in ...

and

infrastructure Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...

. Worldwide, Adani Group has over 100,000 total employees, both directly and indirectly. In April 2021, Adani Group became the third Indian conglomerate to cross US$100 billion in market capitalisation. It crossed the market capitalisation of US$200 billion in April 2022, becoming the third Indian conglomerate after

Tata Group The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continent ...

and

Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Relian ...

to do so. In November 2022, Adani Group

market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

reached top $280 billion (INR 24 trillion) and market capital vision $1 trillion by 2029, surpassing

. According to

The Washington Post ''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large n ...

, more than 60 percent of the Adani Group's revenue is derived from coal-related businesses.

History

Adani Exports Limited commenced as a commodity trading firm in 1988 and diversified into the import and export of multi-basket commodities. With a capital of ₹5 lakhs, the company was established as a partnership firm with the flagship company Adani Enterprises, previously Adani Exports. In 1990 the Adani Group developed its own port in

Mundra Mundra is a census town and a headquarter of Mundra Taluka of Kutch district in the Indian state of Gujarat. Founded in about the 1640s, the town was an important mercantile centre and port throughout its history. Mundra Port is the largest ...

to provide a base for its trading operations. It began construction at Mundra in 1995. In 1998, it became the top net foreign exchange earner for India Inc. The company began coal trading in 1999, followed by a joint venture in edible oil refining in 2000 with the formation of Adani Wilmar. The group's second phase started with the creation of large infrastructure assets. The company established a portfolio of ports,

power plant A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many ...

s, mines, ships and railway lines inside and outside India. Adani handled 4 Mt of cargo at Mundra in 2002, becoming the largest private port in India. Later in 2006, the company became the largest coal importer in India with 11 Mt of coal handling. The company expanded its business in 2008, purchasing

Bunyu Bunyu is an oil-rich Indonesian island situated to the north of Tarakan City, in the eastern Celebes Sea off the north-eastern coast of Borneo in North Kalimantan province. The administrative area comprising Bunyu District is composed of eleven ...

Mine in Indonesia which has 180 Mt of coal reserves. In 2009 the firm began generating 330 MW of thermal power. It also built an edible oil refining capacity in India of 2.2 Mt per annum. Adani Enterprises became the largest trading house in India importing coal with a market share 60%. It also supplies coal to NTPC, India. The Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights in 2010. Operations at the Port of Dahej commenced in 2011 and its capacity subsequently grew to 20 Mt. The company also bought Galilee Basin mine in Australia with 10.4 gigatonnes (Gt) of coal reserves. It also commissioned 60 Mt of handling capacity for the coal import terminal in Mundra, making it the world's largest. In the same year, the Adani group also bought Abbot Point port in Australia with 50 Mt of handling capacity. It commissioned India's largest solar power plant with a capacity 40 MW. As the firm achieved 3,960 MW capacity, it became the largest private sector thermal power producer in India. In 2012 The company shifted its focus on three business clusters – resources, logistics and energy. Adani Power emerged as India's largest private power producer in 2014. Adani Power's total installed capacity then stood at 9,280 MW. The Mundra Port, Adani Ports and SEZ Ltd. (APSEZ), handled 100 Mt in fiscal 201314. On 16 May of the same year, Adani Ports acquired Dhamra Port on East coast of India for . Dhamra Port was a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects, which has been acquired by Adani Ports. The port began operations in May 2011 and handled a total cargo of 14.3 Mt in 201314. With the acquisition of

Dhamra Port The Dhamra Port is a port in Bhadrak district, Odisha, India, on the shore of the Bay of Bengal about seven kilometres from the old port of Dhamra. The agreement to develop the port was signed in April 1998. The Dhamra Port Company Limited ( ...

, the Group is planning to increase its capacity to over 200 Mt by 2020. Krishnapatnam port Nellore

In 2015, the Adani Group's Adani Renewable Energy Park signed a pact with the

Rajasthan Government The Government of Rajasthan is the supreme governing authority of the Indian state of Rajasthan and its 33 districts. It consists of an executive, led by the Governor of Rajasthan, a judiciary and a legislative. Jaipur is the capital of R ...

for a 50:50 joint venture to set up India's largest solar park with a capacity of 10,000 MW. In November 2015, the Adani group began construction at the port in Vizhinjam,

Kerala Kerala ( ; ) is a state on the Malabar Coast of India. It was formed on 1 November 1956, following the passage of the States Reorganisation Act, by combining Malayalam-speaking regions of the erstwhile regions of Cochin, Malabar, South Ca ...

. Adani Aero Defence signed a pact with Elbit-ISTAR and Alpha Design Technologies to work in the field of Unmanned Aircraft Systems (UAS) in India in 2016. In April, Adani Enterprises secured approval from the Government of Gujarat to begin work on building a solar power equipment plant. In September,

Adani Green Energy Adani Green Energy Limited (AGEL) is an Indian renewable energy company headquartered in Ahmedabad, Gujarat. It is owned by Indian conglomerate Adani Group. The company operates Kamuthi Solar Power Project, one of the largest solar photovoltaic ...

(

Tamil Nadu Tamil Nadu (; , TN) is a state in southern India. It is the tenth largest Indian state by area and the sixth largest by population. Its capital and largest city is Chennai. Tamil Nadu is the home of the Tamil people, whose Tamil language ...

), the renewable wing of the Adani Group, began operations in Kamuthi in Ramanathapuram, Tamil Nadu with a capacity of 648 MW at an estimated cost of . In the same month, the Adani Group inaugurated a 648 MW single-location solar power plant. It was the world's largest solar power plant at the time it was set up. In December, the Adani Group inaugurated a 100 MW solar power plant in

Bhatinda Bathinda is a city and municipal corporation in Punjab, India. The city is the administrative headquarters of Bathinda District. It is located in northwestern India in the Malwa Region, west of the capital city of Chandigarh and is the fift ...

, the largest in

Punjab Punjab (; Punjabi Language, Punjabi: پنجاب ; ਪੰਜਾਬ ; ; also Romanization, romanised as ''Panjāb'' or ''Panj-Āb'') is a geopolitical, cultural, and historical region in South Asia, specifically in the northern part of the I ...

. The plant was built at a cost of . On 22 December 2017, the Adani Group acquired the power arm of

Reliance Infrastructure Reliance Infrastructure Limited (R-Infra), formerly Reliance Energy Limited (REL) and Bombay Suburban Electric Supply (BSES), is an Indian private sector enterprise involved in power generation, infrastructure, construction and defence. It is p ...

for . In October 2019, French oil and gas company

TotalEnergies TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas exploration and ...

bought a 37.4% stake in Adani Gas for and obtained joint control of the company. Total also invested 510 million in a subsidiary of Adani Green Energy in February 2020. In August 2020, Adani Group obtained a majority stake in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the secon ...

and

Navi Mumbai Navi Mumbai (), is a planned city situated on the west coast of the Indian subcontinent, located in the Konkan division of Maharashtra state, on the mainland of India. Navi Mumbai is part of the Mumbai Metropolitan Region (MMR). The city ...

airports after entering a debt acquisition agreement with GVK Group. Through a

concession agreement A concession or concession agreement is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity. Public services such as water supply may be operated as a concession. In the case of a p ...

with the

Airports Authority of India The Airports Authority of India, or AAI, is a public sector enterprise under the ownership of the Ministry of Civil Aviation, Government of India. It is responsible for creating, upgrading, maintaining, and managing civil aviation infrastruct ...

, Adani Group also obtained a 50-year lease on Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports. In May 2021, Adani Green Energy acquired SB Energy, a joint venture of

SoftBank Group is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo which focuses on investment management. The Group primarily invests in companies operating in technology, energy, and financial sectors. It also runs the Vi ...

and

Bharti Enterprises Bharti Enterprises is an Indian multinational conglomerate, headquartered in Delhi. It was founded in 1976 by Sunil Mittal. Bharti Enterprises owns businesses spanning across manufacturing, telecommunications, agribusiness, real estate, ...

, for 3.5 billion. In May 2022, the Adani Group acquired

Ambuja Cements Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited, is a major Indian cement producing company. The Group markets cement and clinker for both domestic and export markets. Partnership The company had entered into a strategi ...

and ACC for US$10.5 billion. The deal will make the Adani Group the second largest cement maker in India. In May 2022, UAE-based conglomerate International Holding Company (IHC), headed by Syed Basar Shueb, invested 2 billion in three Adani Group companies, namely Adani Green Energy, Adani Transmission and Adani Enterprises. In June 2022,

acquired a 25% stake in Adani New Industries, the newly formed green hydrogen subsidiary of Adani Enterprises, for 12.5 billion.

Listed companies

Adani Enterprises

Adani Enterprises is a

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

, which is primarily engaged in mining and trading of

coal Coal is a combustible black or brownish-black sedimentary rock, formed as rock strata called coal seams. Coal is mostly carbon with variable amounts of other elements, chiefly hydrogen, sulfur, oxygen, and nitrogen. Coal is formed when ...

and

iron ore Iron ores are rocks and minerals from which metallic iron can be economically extracted. The ores are usually rich in iron oxides and vary in color from dark grey, bright yellow, or deep purple to rusty red. The iron is usually found in the ...

on a standalone basis, and acts as an

incubator An incubator is anything that performs or facilitates various forms of incubation, and may refer to: Biology and medicine * Incubator (culture), a device used to grow and maintain microbiological cultures or cell cultures * Incubator (egg), a de ...

for Adani Group's new business ventures. It has three main subsidiaries: Adani Wilmar (food processing), Adani Airport Holdings (airport operations) and Adani Road Transport (road development). Through its other subsidiaries, Adani Enterprises also has business interests in solar PV module manufacturing, water infrastructure,

data center A data center (American English) or data centre (British English)See spelling differences. is a building, a dedicated space within a building, or a group of buildings used to house computer systems and associated components, such as telecommun ...

s, agri-output storage and distribution, defence and aerospace,

bunkering Bunkering is the supplying of fuel for use by ships (such fuel is referred to as bunker), including the logistics of loading and distributing the fuel among available shipboard tanks. A person dealing in trade of bunker (fuel) is called a bu ...

, rail and metro infrastructure, real estate, financial services, oil exploration,

petrochemicals Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable so ...

and cement.

Adani Green Energy

is the renewable energy arm of the group, having wind and solar power plants in its portfolio. It is the world's largest

solar power Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Photovoltaic cells convert light into an electric current using the photovolta ...

developer by capacity, with a total capacity of 12.3 GW. In 2022, Adani Green formed 3 new subsidiary companies, called Adani Renewable Energy Thirty Six, Adani Renewable Energy Forty Limited and Adani Renewable Energy Forty Seven Limited.

Adani Ports & SEZ

Adani Ports & SEZ Adani Ports and Special Economic Zone Limited (Adani Ports & SEZ; also APSEZ) formerly known as Mundra Port and Special Economic Zone Limited, is an Indian port operator. APSEZ represents a large network of ports with India's largest SEZ at Mu ...

(APSEZ) is the largest private port company and

special economic zone A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increas ...

in India, with ten ports and terminals including

Mundra Port Mundra Port is the largest private port of India located on the north shores of the Gulf of Kutch near Mundra, Kutch district, Gujarat. Formerly operated by Mundra Port and Special Economic Zone Limited (MPSEZ) owned by Adani Group, it was late ...

, its largest. The company is headed by Karan Adani, CEO of APSEZ. The company's operations include Port management,

logistics Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of ...

and the

. The company operates at the following ports:

, Dahej, and

Hazira Hazira is a suburb and a transshipment port in the Surat City in the Gujarat state of India. It is the west most end of Surat. Hazira is one of the major ports of India and the most important element of Surat Metropolitan Region. The town is ...

, Gujarat;

Dhamra Dhamra (or Dhamara) is a small community on the banks of the Dhamra River in the Bhadrak district of Odisha state, India. They were Shoodars before independence, as it's in history. Others believe they're descendants of Clan Loot. It developed ...

Odisha Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of ...

; Kattupalli,

; and Vizhinjam,

Adani Power

Adani Power Adani Power is an Indian power and energy company. A subsidiary of Indian conglomerate Adani Group with head office at Khodiyar in Ahmedabad, it is a private thermal power producer, with a capacity of 12,450 MW that operates a mega solar plant ...

was established in August 1996. The company develops and maintains power projects and is the largest

private sector The private sector is the part of the economy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The ...

power generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its stor ...

company in the country. It has a combined installed capacity of 12,450 MW with four thermal power projects across India.

Adani Transmission

Integrated in 2013,

Adani Transmission Adani Transmission Ltd, is an electric power transmission company headquartered in Ahmedabad, India. Currently, it is one of the largest private sector power transmission companies operating in India. As of July 2020, the company operates a cu ...

handles the commissioning, operations and maintenance of electric power transmission systems. As of May 2021, the company holds, operates and maintains 17,200 circuit kilometres of transmission lines that range from 400 to 765 kilovolts, making it India's largest private sector power transmission and distribution network.

Adani Total Gas

Adani Total Gas is a city gas distribution company serving both industrial and residential customers in India through

piped natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...

connections and

compressed natural gas Compressed natural gas (CNG) is a fuel gas mainly composed of methane (CH4), compressed to less than 1% of the volume it occupies at standard atmospheric pressure. It is stored and distributed in hard containers at a pressure of , usually in ...

stations. It is a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

between Adani Group and the French oil and gas company

. Adani Total Gas has presence in 22 geographical areas (GAs) as a standalone entity as of November 2020. In addition, Indian Oil-Adani Gas Pvt. Ltd., a 50:50 joint venture between Adani Total Gas and

Indian Oil Corporation Indian Oil Corporation Limited (IOCL; d/b/a IndianOil) is a central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector un ...

, operates city gas distribution networks in 19 GAs. With a combined presence of 41 GAs in 74

districts A district is a type of administrative division that, in some countries, is managed by the local government. Across the world, areas known as "districts" vary greatly in size, spanning regions or counties, several municipalities, subdivisions ...

, Adani Total Gas is the largest city gas operator in India. Recently, The Adani Group announced strategic collaboration with Snam, Europe's leading gas infrastructure company on energy mix transition.

Adani Wilmar

Adani Wilmar, a joint venture between Adani Enterprises Ltd and Wilmar International Limited, is the owner of the Fortune brand of edible oils. In May 2022, Adani Wilmar Limited (AWL) acquired ‘Kohinoor’ brand from McCormick Switzerland GMBH.

Philanthropy

In 2020, the Adani Foundation donated to the

PM CARES Fund The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was created on 27 March 2020, following the COVID-19 pandemic in India. Although it is named for the Prime Minister of India, and uses the State Em ...

to fight the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

. The Foundation made contributions of to the Gujarat CM Relief Fund and to the Maharashtra CM Relief Fund. The employees of Adani Group made a contribution of to Adani Foundation for

COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first known case was identified in Wuhan, China, in December 2019. The disease quick ...

relief measures. In March 2021, Adani Group announced that it will reimburse the charges incurred by the employees and their families for the

vaccination. In May 2021, Adani Group procured 48 cryogenic tanks from manufacturers in

Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is b ...

, Singapore,

Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Ara ...

, UAE and

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the no ...

for transporting medical grade liquid oxygen to combat the second wave of COVID-19 in India. In June 2022, Adani and his family pledged to donate ₹60,000 crore (US$7.7 billion) for social causes.

Sports

The Adani Group has multiple initiatives in sports. Launched in 2016 to prepare athletes for Rio Olympics, ''Garv Hai ('' ) is a nationwide programme to promote sports and support athletes in India. It was re-launched for a second time to groom athletes for

2020 Tokyo Olympics The , officially the and also known as , was an international multi-sport event held from 23 July to 8 August 2021 in Tokyo, Japan, with some preliminary events that began on 21 July. Tokyo was selected as the host city during the ...

, 2022 Asian Games and

Commonwealth Games The Commonwealth Games, often referred to as the Friendly Games or simply the Comm Games, are a quadrennial international multi-sport event among athletes from the Commonwealth of Nations. The event was first held in 1930, and, with the ex ...

. The programme focuses on archery, shooting, athletics, boxing, and wrestling. Beneficiaries of the ''Garv Hai'' pilot project in 2016 include

Ankita Raina Ankita Ravinderkrishan Raina (born 11 January 1993) is an Indian professional tennis player. Since 2013, she has regularly been the Indian number one in both singles and doubles. Raina has won one title on the WTA Tour and one at WTA 125 tourn ...

(tennis), Pinki Jangra (boxing),

Shiva Thapa Shiva Thapa (born 8 December 1993) is an Indian boxer. He is employed with Oil and Natural Gas Corporation Ltd. He is supported by Olympic Gold Quest and Anglian Medal Hunt Company, Shiva Thapa participated in the 2012 London Olympics,

(boxing), Khushbir Kaur (athletics), Inderjeet Singh (athletics), Mandeep Jangra (boxing), Malaika Goel (shooting), Deepak Punia (wrestling), KT Irfan (racewalking) and

Sanjivani Jadhav Sanjivani Baburao Jadhav (born 12 July 1996) is an Indian long-distance athlete at 5000m and 10,000m. She had won a bronze medal at 5000m at the 2017 Asian Athletics Championships. Life Jadhav was born in Nashik which is a city in Maharashtra ...

(athletics). Adani group also owns the Gujarat Giants team in the Pro Kabaddi League. Another initiative is the Surguja Football Academy in Chhattisgarh. So far 11 players from Surguja have been selected to play for the

Indian national football team The India national football team represents India in international football and is governed by the All India Football Federation (AIFF). The team is affiliated to FIFA and Asian Football Confederation (AFC). Indian team, which was once cons ...

. Adani Group also has

naming rights Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event, typically for a defined period of ...

on Hegvold Stadium (now known as Adani Arena) in

Rockhampton Rockhampton is a city in the Rockhampton Region of Central Queensland, Australia. The population of Rockhampton in June 2021 was 79,967, Estimated resident population, 30 June 2018. making it the fourth-largest city in the state outside of t ...

and the pavilion end of the Narendra Modi Stadium in Ahmedabad. In 2022, Adani Group acquired the Gulf Giants team in UAE's International League T20. Adani Group purchased a franchise in

Legends League Cricket Legends League Cricket is a Twenty20 cricket league featuring retired cricket players. Legends League Cricket Masters has been played in Oman and Qatar and the franchise Legends League Cricket T20 league has been played in India. Background ...

Controversies

Coal mining in Australia

Adani's Abbot Point coal spill photos (33962498356)

The Adani Group launched in 2014, with the support of a part of the Australian Government and Queensland, a mining and rail project (

Carmichael coal mine The Carmichael coal mine is a coal mine in Queensland, Australia which produced its first shipment of coal in December 2021. The mine has drawn criticism for its environmental impacts on the Great Barrier Reef, water usage and carbon emissions. ...

) in Carmichael in

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , establishe ...

's Galilee Basin for $21.5 billionADANI
"Description of the mine project" by the Adani, PDF, 110 pages
(version projecting a 90-year exploitation) (over the life of the project, i.e. 60 years). This mine is one of many coal mines in Queensland, Australia. Its annual capacity would be 10 Mt of thermal coal. This project will occupy an area of . In response to activist pressure some international banks refused to finance it, and in November 2018, Adani Australia announced that the Carmichael project would be 100% financed by Adani Group resources. In July 2019, the project received its final approvals from the Australian Government and construction of the mine commenced. The Australian Government has been taken to the

Federal Court of Australia The Federal Court of Australia is an Australian superior court of record which has jurisdiction to deal with most civil disputes governed by federal law (with the exception of family law matters), along with some summary (less serious) and indic ...

by the Australian Conservation Foundation twice, once in 2018 and once in March 2020 (still ongoing ), relating to its contravention and alleged contravention of the ''

Environment Protection and Biodiversity Conservation Act 1999 The ''Environment Protection and Biodiversity Conservation Act 1999'' (Cth) is an Act of the Parliament of Australia that provides a framework for protection of the Australian environment, including its biodiversity and its natural and cult ...

'' with respect to the impact of the Carmichael mine on

groundwater Groundwater is the water present beneath Earth's surface in rock and Pore space in soil, soil pore spaces and in the fractures of stratum, rock formations. About 30 percent of all readily available freshwater in the world is groundwater. A unit ...

and the country's

water resources Water resources are natural resources of water that are potentially useful for humans, for example as a source of drinking water supply or irrigation water. 97% of the water on the Earth is salt water and only three percent is fresh water; slight ...

. In 2020, Adani Mining changed its name to Bravus Mining and Resources. On 29 December 2021, Bravus announced that the first shipment of high-quality coal from the Carmichael mine had been assembled at the North Queensland Export Terminal (NQXT) in

Bowen Bowen may refer to: Places Australia * Bowen, Queensland, a town * Bowen Hills, Queensland, a suburb ** Bowen Hills railway station, a railway station in Bowen Hills ** Bowen Park, Brisbane, a park in Bowen Hills * Bowen Bridge, crossing the Derw ...

ready for export as planned.

Cronyism

Chairman and MD Gautam Adani has been described as being close to former

Chief Minister of Gujarat The Chief Minister of Gujarat is the chief executive of the government of the Indian state of Gujarat. The governor appoints the chief minister, whose council of ministers are collectively responsible to the assembly. The chief minister's term ...

and Indian Prime Minister

Narendra Modi Narendra Damodardas Modi (; born 17 September 1950) is an Indian politician serving as the 14th and current Prime Minister of India since 2014. Modi was the Chief Minister of Gujarat from 2001 to 2014 and is the Member of Parliament from ...

and his ruling

Bharatiya Janata Party The Bharatiya Janata Party (BJP; ; ) is a political party in India, and one of the two major List of political parties in India, Indian political parties alongside the Indian National Congress. Since 2014, it has been the List of ruling p ...

. This has led to allegations of

cronyism Cronyism is the spoils system practice of partiality in awarding jobs and other advantages to friends or trusted colleagues, especially in politics and between politicians and supportive organizations. For example, cronyism occurs when appointin ...

as his firms have won many Indian energy and infrastructure government contracts. In 2012, an Indian government auditor accused Modi of giving low cost fuel from a Gujarat state-run gas company to the Adani group and other companies. In Jharkhand, Modi's government bent rules and regulations for Adani's coal plant. Both the Adani Group and Modi's government have denied allegations of cronyism.

Leverage

In August 2022, CreditSights, a unit of

Fitch Ratings Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations ( NRSRO ...

, warned that Adani Group was "deeply over

leveraged In finance, leverage (or gearing in the United Kingdom and Australia) is any technique involving borrowing funds to buy things, hoping that future profits will be many times more than the cost of borrowing. This technique is named after a lever ...

” and that its recent aggressive expansion had hurt the company's cash flow and credit. It also stated that a potential "worst-case scenario" could lead the company to end up in a debt trap and a potential default. The Adani Group did not comment on CreditSights' warning.

Tax evasion

On 27 February 2010,

Central Bureau of Investigation The Central Bureau of Investigation (CBI) is the premier investigating agency of India. It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and governmen ...

arrested Rajesh Adani, managing director of Adani Enterprises Ltd., on charges of custom duty evasion amounting to ₹80

lakh A lakh (; abbreviated L; sometimes written lac) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation: 105). In the Indian 2,2,3 convention of digit grouping, it is written as 1,00,000. For ex ...

. In August 2017,

Indian customs Indian or Indians may refer to: Peoples South Asia * Indian people, people of Indian nationality, or people who have an Indian ancestor ** Non-resident Indian, a citizen of India who has temporarily emigrated to another country * South Asia ...

alleged the Adani Group was diverting millions of funds from the company's books to Adani family tax havens overseas. Adani was accused of using a

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

shell company to divert the funds. The details of a $235 million diversion were obtained and published by ''

The Guardian ''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Gu ...

''. In 2014, the

Directorate of Revenue Intelligence The Directorate of Revenue Intelligence (DRI) is an Indian intelligence agency. It is India's apex anti-smuggling intelligence, investigations and operations agency. The Directorate is run by officers from the Central Board of Indirect Taxes a ...

mapped out a complex money trail from

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

through

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

and

, and eventually to an offshore company in

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...

allegedly owned by Vinod Shantilal Adani, the older brother of

References

External links

* {{Adani Group Companies based in Ahmedabad Indian companies established in 1988 1988 establishments in Gujarat Adani family Companies listed on the National Stock Exchange of India