'Textbook case of crony capitalism' and potential threat to national security: Cong on Adani ports
New Delhi (PTI): The Congress on Saturday cited a media report on the Adani Group's growing share in port operations to allege that this is not only a "textbook case of crony capitalism" but a potential threat to national security.
Congress general secretary Jairam Ramesh said that in the party's "Hum Adani ke Hain Kaun" series of 100 questions, it had asked Prime Minister Narendra Modi three pointed questions on how Adani had become India's largest ports operator "without engaging in any competitive bidding and with the help of government raids on owners of private ports - who miraculously decided to sell their assets thereafter to Adani".
"An Indian Express report today highlights growing concerns at the highest level of government about the strategic implications of this Modi-made Monopoly (3M)," he said.
A senior shipping ministry official has said that high market concentration brings a real risk of abuse of this dominance, Ramesh pointed out, citing the report.
"A senior official from one of the economic ministries has expressed concerns that market concentration by a firm facing serious and credible allegations of accounting fraud and stock manipulation is an issue in a strategic sector like ports," he said.
The opposition party has been questioning the financial dealings of billionaire Gautam Adani's group after the US-based Hindenburg Research alleged "irregularities" and charged it with stock price manipulation.
The Adani Group has denied all the allegations made in the Hindenburg report and claimed there had been no wrongdoing on its part.
Ramesh also pointed out that a former Competition Commission of India chairperson has stated that the "creeping acquisition of capacity by one player while the others fall or languish" is a growing concern.
"Adani has gone from 10% to 24% of total ports traffic in the past decade, and today controls a huge 57% of cargo volumes outside of India's government-owned 'major ports'," the Congress leader said.
"By brazenly handing control of a critical strategic sector to his close friend - one who faces serious accusations of criminality - the PM has made himself and India a global laughing stock," he alleged.
"A friend who has shady connections with Chinese and Emirati individuals, who are not only involved in over-invoicing and stock manipulation but also have been given exclusive rights to build ports for Adani," he said.
Ramesh asserted that this is not only a "textbook case of crony capitalism" but a potential threat to national security.
"Since PM Modi and his pet agencies can't be expected to investigate this, we reiterate our call for a JPC to look into all aspects of the Adani MegaScam," he said.
According to the media report cited by Ramesh, from just one big port, Mundra, in 2001, the Adani Group today has grown to be the largest private operator with as many as 14 ports and terminals handling a quarter of all cargo passing through the country's ports.
In another post, Ramesh said the Union Coal Ministry insists domestic production and stocks of coal are adequate but the Union Power Ministry has directed utilities to import coal.
"The beneficiary is none other than the PM's most-favoured business group," he said in an apparent reference to the Adani Group.
He also tagged a media report which said India has asked utilities to import six per cent of their coal until March.
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Vaishnaw flags off Jammu-Srinagar Vande Bharat, services from May 2
Srinagar (PTI): Railways Minister Ashwini Vaishnaw on Thursday flagged off the 20-coach Vande Bharat Express train between Jammu and Srinagar, the first direct train between the twin capitals of Jammu and Kashmir.
Chief Minister Omar Abdullah and Minister of State in the Prime Minister's Office, Jitendra Singh, were among the dignitaries present at the flagging off ceremony.
The direct train services between Srinagar and Jammu will reduce travel time between the twin capitals of Jammu and Kashmir, and boost tourism, besides providing an all-weather surface transport link.
Prime Minister Narendra Modi inaugurated the first direct train service between Katra and Srinagar on June 6, 2025. This service is now being extended up to the Jammu Tawi Railway Station.
The work on the Rs 43,780-crore rail project, linking Kashmir to the rest of the country, began in the late 1990s, with the first train operating in the Kashmir Valley in October 2008.
While train services had reached Udhampur by 2005, the treacherous terrain through the mountainous Pir Panjal range made it tough to link the valley with the rest of the country until 2025.
"The modern 20-coach Vande Bharat train will commence its maiden journey from Jammu Tawi, traversing the route up to Srinagar while connecting the challenging geographical terrains of the Valley," an official said, adding that a train from Srinagar has also started moving towards Jammu simultaneously.
Before the commencement of the Jammu-Srinagar service, a trial run of the Vande Bharat was conducted on Tuesday from Jammu to Shri Mata Vaishno Devi Katra railway stations, officials said.
The inaugural Vande Bharat train, equipped with state-of-the-art amenities and comprising 20 coaches, will cover a total distance of 267 kilometres.
The Jammu-Srinagar train service -- scheduled to start on May 2 -- will operate six days a week. There will be no train service on this route on Tuesdays.
"Constructed using indigenous technology, this Vande Bharat Express will offer passengers a world-class travel experience," Senior Divisional Commercial Manager Uchit Singhal said.
"It features amenities such as the 'Kavach' safety system for passenger security, a GPS-based information system, and comfortable rotating seats. This service will not only reduce travel time but also provide a massive boost to the local economy and tourism," he added.
The extension of the Vande Bharat to Jammu Tawi is the latest milestone in a decade-long effort to transform railway connectivity in Jammu & Kashmir.
The Udhampur-Katra section was commissioned in 2014. The Kashmir Valley saw its first electric train in February 2024, while a dedicated Jammu Railway Division was created in January 2025.
Stations at Jammu Tawi, Katra, Udhampur, and Budgam are being redeveloped under the Amrit Bharat Station Scheme.
The Udhampur-Srinagar-Baramulla Rail Link, built at a total cost of Rs 43,780 crore with 36 tunnels spanning 119 km and 943 bridges, is the connective tissue that makes all of this possible, an official said.
