Munich: Hungarian billionaire and philanthropist George Soros says that the Adani stock fraud scandal will be the beginning of Modi’s downfall in India. He also opined that fraud will pave the way for democratic revival in India.
Soros was speaking at the Munich Security Conference in Germany. He also accused Modi of being silent on the Adani issue despite being close allies. Modi will have to answer questions from foreign investors and Parliament about the Adani stock scam, he said.
‘Modi grew up raising anti-Muslim attacks’
Adani Group tried to raise funds from the stock market but failed. Allegations of stock fraud have been raised against Adani. His stock fell by the lottery. Modi is silent on this issue. However, he will have to answer the questions of foreign investors and in the parliament.’- George Soros pointed out in the speech.
‘Adani’s troubled times will shatter Modi’s power structure in the Indian governance system to a large extent. This will pave the way for much-needed institutional reforms in the country. I don’t know if it’s because I’m naive, but I hope there will be a democratic renaissance in India.’
Modi is not a democrat. His rapid rise was fueled by attacks on Muslims. He also mentioned that India is making huge profits from buying Russian oil at a huge discount.
George Soros criticized Turkish President Recep Tayyip Erdogan and Chinese President Xi Jinping in his speech. He blamed Erdogan’s mismanagement for destroying the Turkish economy. Predicting that Xi Jinping will not remain in power for long, Soros clarified that Xi will not be able to lead China to the military and political dominance he aims for.
Who is George Soros?
George Soros is a billionaire globally known for his philanthropic and social work. He was born in Hungary and now works as a US center. Soros also heads an NGO called the Open Society Foundation, which has assets of around 70,000 crores. Open Society aims to support individuals and organizations actively engaged in issues of democracy and freedom of expression.
The ‘Central European University’ founded by Soros in Budapest has been a constant target of former Hungarian president and far-right leader Viktor Orbán. Following this, the university campus was shifted to Vienna.
Summary: Billionaire financier George Soros has predicted India’s prime minister Narendra Modi will be weakened by the crisis of Gautam Adani and will open the door to a democratic revival in the country