Adani scandal: A value of one million Porsche 911 – just gone – economy

From

David Pfeifer, Bangkok

Imagining $120 billion is like trying to capture the expansion of the universe. It roughly corresponds to the annual gross domestic product of Kuwait or Slovakia. If you like it more pictorial: You would get a million Porsche 911 for that. The Indian Adani Group has lost that much in value within three weeks after the US short-seller Hindenburg Research published a report on January 24. The title: “Adani Group: how the third richest man in the world pulled off the biggest scam in economic history.” Since then, not only has the Indian economy been in turmoil, but not a day has gone by without controversy in the Indian parliament. Will Adani become the Indian Wirecard?

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