In a post on platform ‘X’ , Senior Congress leader Jairam Ramesh has accused the Competition Commission of India (CCI) of favouring Adani Group, by approving their acquisitions and allowing the creation of monopolies in critical sectors.
His comments came amidst reports that the CCI has expressed concerns over the proposed merger between Reliance and Walt Disney media assets, highlighting what he perceives as the regulatory body’s selective scrutiny.
Ramesh’s posts pointedly questioned the CCI’s approach to the Adani Group, which he claimed has been acquiring companies across various industries, including ports, airports, power and cement, with minimal regulatory resistance. According to Ramesh, these acquisitions have allowed the Adani conglomerate to establish monopolies in sectors that are vital to the Indian economy and susceptible to market failures.
He criticised the CCI for not exhibiting the same level of scrutiny or concern that it reportedly showed towards the proposed Reliance-Disney merger. “All acquisitions by the Adani Group have been approved, even as the company builds monopolies,” Ramesh wrote, accusing the conglomerate of using “threats and intimidation” to further its business interests, allegedly with the support of “the powers-that-be.”
Impact on consumers
Ramesh’s criticism extended to the broader impact of these alleged monopolistic practices on consumers.
He cited the sharp increase in User Development Fees (UDF) at Lucknow and Mangaluru airports, both of which are operated by the Adani Group, as an example of the financial burden being passed on to the public. The five-fold increase in UDFs was approved by the Union government, despite concerns from the NITI Aayog and the Ministry of Finance when the airports were initially awarded to Adani.
Similarly, Ramesh pointed to the rising electricity prices in States such as Haryana, Jharkhand and Gujarat, attributing these hikes to the Adani Group’s dominance in the power sector.
He argued that such price increases are indicative of the anti-competitive practices that regulatory bodies like the CCI are supposed to prevent.
Role of SEBI and other regulatory bodies
In his ‘X’ post , Ramesh also took aim at SEBI and other regulatory institutions, accusing them of disappearing when it comes to scrutinising transactions involving the Adani Group.
He questioned why these typically proactive bodies have remained passive as “the non-biological Prime Minister’s closest friend” has built monopolies in key infrastructure sectors, leading to higher prices for consumers.