Telangana IT and Industries Minister, Sridhar Babu said Rahul Gandhi while targeting Adani meant that the Union government's revenue allocation is only focussed on a few individuals.
Telangana Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu meet the Adani Group delegation led by Karan Adani on 2 January. (Supplied)
After an Adani Group delegation met with Telangana Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu, the latter said on Thursday, 4 January, that the government will provide a platform of equal opportunities to all entrepreneurs who would like to be a part of state’s growth.
Sridhar Babu, who also holds the IT portfolio, told South First, “In our vision of inclusive growth, everybody will be a part and parcel of our state’s growth. We are very clear about that.”
The Adani Group delegation was led by Adani Ports and SEZ CEO Karan Adani, the son of group head Gautam Adani.
At the meeting on 3 January, the delegation expressed keen interest in investing in Telangana. The discussions focused on the establishment of a data centre and an aerospace project.
Revanth Reddy affirmed that his government would provide the necessary infrastructure and incentives to facilitate the establishment of new industries.
The move is expected to create employment opportunities for the youth and catalyse industrial growth.
The Adani Group came forward again to invest in Telangana State. Chief Minister Sri @Revanth_Anumula held talks with Sri @Gautam_Adani 's elder son and CEO to Ports and SEZs Sri @AdaniKaran and Adani AeroSpace CEO @AshRajvanshi. The Chief Minister has assured the Adani company… pic.twitter.com/y7PgGOVCjl
— Telangana CMO (@TelanganaCMO) January 3, 2024
Speaking on the sidelines of a press meet at Gandhi Bhavan in Hyderabad, Sridhar Babu told South First, “When it comes to economy, industry, and infrastructure, we want Telangana to be in the first position. In a democratic space, anybody can come and meet us. So did Adani.”
The Congress leader stated the meeting was an opportunity for all the stakeholders.
“If someone wants to come and make an investment and help us to progress in five years, that is our responsibility,” he noted.
“When the chief minister sought funds from Primer Minister Narendra Modi for Telangana, do you think it was wrong? We will be meeting all the people who can be part and parcel of Telangana’s growth,” said Sridhar Babu.
The five-time MLA from Manthani Assembly Constituency added that the delegation made its presentation. “Now it is for us to decide considering our people’s growth,” he said.
During the meeting, the Adani delegation is said to have conveyed its intention to continue existing projects, while seeking government cooperation to set up new industries.
Emphasising its readiness to invest in Telangana, the Adani Group pledged support for the state’s industrial growth and employment generation.
The Adani Group has been in the crosshairs of the Congress across the nation, with its top leader Rahul Gandhi often accusing it the corporate house of being a beneficiary of “crony capitalism” because of Gautam Adani’s proximity with Prime Minister Narendra Modi.
In 2023, US-based investment firm Hindenburg Research claimed that Adani utilised offshore shell companies to artificially inflate its stock prices.
After the allegations, Adani Group stocks — where LIC is heavily invested — reportedly lost over $100 billion in value.
Later, the Organised Crime and Corruption Reporting Project (OCCRP) — a global network of investigative journalists — published a report alleging that “opaque” Mauritius funds were used to channel substantial investments into the publicly traded stocks of the Adani Group.
This would purportedly hide the involvement of business partners associated with the Adani family, said the report.
Meanwhile, Rahul Gandhi demanded a parliamentary investigation into the allegations of financial violations against the Adani group. He also displayed pictures of Adani and Modi together and claimed close relations between the two.
Since then, the MP from Waynad has been consistently asking the prime minister to initiate a probe and questioned his silence on the issue.
Asked about the stance of the Congress government in Telangana on the topic, Sridhar Babu said, “When Rahul ji made some statements, it particularly meant that be it the resources, the investments, the opportunities, or the revenue distributions, all were directed only towards a few individuals or organisations.”
On the Opposition halting Parliament for a month over the matter, he said, “Whenever the Opposition needs some answers on the floor of the House, it is for the Speaker (Om Birla) to facilitate the functioning of the House. And it’s the responsibility of the treasury benches to answer the Opposition’s queries, objections, or criticisms.”
Claiming that the Opposition led by Congress never stalled Parliament, he added, “The treasury benches were not prepared to give the answers and were neither allowing the members of the Opposition to raise their concerns.”
Babu noted that the Union government’s duty was to present a clear picture of any matter irrespective of what the Opposition was saying.
“Parliament is a platform. It is their job to answer. If they thought we (Opposition parties) were not speaking the truth, they should have told the nation that this was not truth. But they don’t have the moral strength to face the Congress or any other party of the INDIA bloc. They don’t have any parliamentary strength to answer our queries,” Babu said.
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