Non-BJP States Pick Up The Investment Mantra, Roll Out Red Carpet For Adani

Rajasthan is the latest in a series of non-BJP states where the Adani Group is investing.

<div class="paragraphs"><p>Billionaire Gautam Adani. (Source: Reuters)</p></div>
Billionaire Gautam Adani. (Source: Reuters)

It’s all about business and it’s all about developing our state. No matter which party we belong to. That seems to be the motto of chief ministers of several states competing with each other to get investments into the state.

So, when billionaire Gautam Adani, the chairman of the Adani Group, announced an additional Rs 65,000 crore investment in Rajasthan at the state’s summit, a clear thread emerged—business and politics are not necessarily intertwined. Instead, it’s driven by growth and opportunities.

Rajasthan is the latest in a series of non-BJP states where the Adani Group is investing.

The group, which is often criticised by opposition parties as favouring BJP-ruled states, has lined up investments worth Rs 2 lakh crore across four states—Rajasthan, West Bengal, Odisha and Andhra Pradesh. This is in addition to relatively smaller investments in Tamil Nadu and other states.

These investments are part of the capex programme of various Adani Group companies that will be undertaken over the next 5-10 years.

Infrastructure, data centres, mining, renewable energy, airports and ports are some of the key business areas the group is focusing on.

In August, the Adani Group had announced it will set up an integrated alumina refinery near bauxite mines and potential reserves, and iron ore value addition projects covering Keonjhar and Bhadrak districts in Odisha at a cost of Rs 58,585 crore.

The company has earmarked Rs 10,000 crore investment in West Bengal over the next 10 years in port infrastructure, data centres and undersea cables.

Last month, a minister of the West Bengal government was quoted by ANI as saying that work on the state’s first deep sea port and India’s first greenfield port would begin soon in Tajpur by Adani Ports and Special Economic Zone Ltd., with an investment of Rs 25,000 crore, creating job opportunities for 25,000 people.

In Andhra Pradesh, Adani is investing Rs 60,000 crore in renewable energy. It will be setting up a 10,000 megawatt solar power project along with setting up another 3,700 MW pumped hydro solar project in the state.

The Rs 65,000 crore Rajasthan investment plan announced on Friday includes setting up of a mega 10,000 MW solar power capacity, expanding the cement plant of Ambuja Cements Ltd. and upgrading the Jaipur airport.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.