George Soros: Why India’s Hindu nationalists are angry with the US billionaire

In 2020, the American investor accused Narendra Modi of ‘creating a Hindu nationalist state’

American billionaire investor and philanthropist George Soros is facing a major government and media-led backlash in India over his comments about the allegations of fraud against India’s Adani Group conglomerate.

During the Munich Security Conference on 17 February, Mr Soros claimed the accusations by US short-seller Hindenburg Research against the conglomerate led by one of the world’s richest men – Gautam Adani – threatened to hurt investor confidence in India.

He added that “(prime minister Narendra) Modi and business tycoon Adani are close allies; their fate is intertwined. Adani Enterprises tried to raise funds in the stock market, but he failed. Adani is accused of stock manipulation and his stock collapsed like a house of cards”.