New Delhi. Congress on Wednesday claimed that Adani Group has allegedly established monopoly in various sectors and questioned why institutions like Competition Commission of India (CCI) are inactive in this matter. Party General Secretary Jairam Ramesh also said that CCI should have the courage to take action in the case of Adani Group. Since the report of American institution ‘Hindenburg Research’ came out, Congress has been continuously accusing Adani Group of irregularities and monopoly, although this business group has rejected all the allegations.
Ramesh posted on the social media platform ‘X’, “There is news that the Competition Commission of India (CCI) has raised concerns that the proposed Reliance-Disney merger may affect competition. This is a good time to consider how the CCI should have had the courage to take action in this case as well, how the ‘non-biological’ Prime Minister’s favorite business group is acquiring companies and reducing competition in various industries.”
He said, “It is legally mandatory for the CCI to approve mergers and acquisitions above a certain limit. Yet, all acquisitions made by the Adani Group have been approved, even though the company has created a monopoly in sectors such as ports, airports, power and cement.”
Ramesh said, “In recent years, the CCI has not hesitated to impose fines on both domestic and global companies for alleged abuse of dominance. Yet, the central government has allowed a five-fold increase in the user development fee (UDF) paid by passengers at Lucknow and Mangaluru airports. These airports were also among the six airports given to the Adani Group after the rules were changed in its favour, despite objections from Niti Aayog and the Finance Ministry.” He alleged that the policies and actions of the Adani Group have led to a sharp rise in power prices in states like Haryana, Jharkhand and Gujarat.
Ramesh asked, “Why do India’s regulatory institutions, including SEBI, disappear when transactions involve the ‘non-biological’ Prime Minister’s closest friend? Why have these institutions, which are normally active, remained inactive as this friend has established a monopoly in critical infrastructure sectors by raising prices at the expense of consumers?”