Islamabad, February 18, 2023 (PPI-OT):Hungarian-American businessman and billionaire philanthropist, George Soros, has said that the turmoil at Gautam Adani’s business empire may weaken the Indian Prime Minister Narendra Modi’s hold on the government of India. George Soros in a speech at the Munich Security Conference on Thursday said Modi would “have to answer questions” from foreign investors and Parliament on allegations the Adani group is facing. He said the turmoil at Adani may open the door to a democratic revival in the country.

Adani group led by Narendra Modi’es close friend Gautam Adani has been under severe pressure since the US short-seller Hindenburg Research in its report on January 24, said that the group has been involved in fraudulent transactions and share-price manipulation since decades. While listed companies of the group lost over $125 billion in market value in three weeks, opposition parties inside and outside Parliament in India attacked the Narendra Modi-led BJP government for the meteoric rise of the conglomerate.

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