The group’s financial performance speaks volumes. In Q1 FY26 (April-June 2025), Adani Ports reported a 6.5% year-on-year increase in net profit to ₹3,311 crore and a 31% surge in revenue to ₹9,126 crore, driven by an 11% growth in cargo volumes. Despite such robust growth, Adani’s decision to transition from Executive to Non-Executive Chairman has been misconstrued by some as a sign of weakness, both for his empire and, bizarrely, for the Modi government.The Resignation: A Strategic Move, Not a RetreatAdani’s redesignation is neither a sudden exit nor a signal of distress. It is a calculated step to comply with the Companies Act, 2013 (Section 203, Sub-section 3), which prohibits an individual from holding executive roles in multiple companies simultaneously. Adani Ports already has two executive directors—Managing Director Karan Adani and Whole-Time Director & CEO Ashwani Gupta—making Gautam Adani’s transition to a non-executive role a legal necessity. This move allows him to focus on strategic oversight across the Adani Group, particularly Adani Enterprises, the flagship company driving new ventures like airports, data centers, and copper metals.
Moreover, the appointment of Manish Kejriwal, founder of Kedaara Capital, as an Additional Non-Executive Independent Director for three years, underscores Adani Ports’ commitment to strengthening corporate governance. Far from being a setback, this reshuffle positions the company for sustained growth while Adani continues to guide its strategic direction as Non-Executive Chairman. To interpret this as the “end of Adani” is not just naive but deliberately misleading.The Rumor Mill: A Decade of Failed PropheciesFor over a decade, since Narendra Modi assumed office in 2014, a vocal minority has peddled narratives of doom. Social media platforms and YouTube channels have been flooded with daily doses of hyperbole, claiming Modi’s government is on the brink of collapse. Congress leaders like Pawan Khera have fueled this fire, repeatedly predicting the government’s fall—sometimes in two months, sometimes in six. Yet, Modi’s Bharatiya Janata Party (BJP) has secured resounding mandates in 2014, 2019, and 2024, proving these prophecies hollow. India’s economy, now the world’s fifth largest and projected to be the third by 2030, stands as a testament to the government’s resilience and vision.
These rumor-mongers thrive on distortion. When Adani’s resignation was announced, they pounced, linking it to alleged instability in Modi’s government. Some even referenced past controversies, like the 2023 Hindenburg Research report, which accused the Adani Group of fraud and corruption. Despite the temporary dip in Adani’s stock prices, the group rebounded spectacularly, with Gautam Adani emerging as India’s second-richest person in 2025, with a net worth of $60.3 billion, according to Forbes. The Hindenburg allegations were dismissed as baseless by the Adani Group, which vowed legal action, and the conglomerate’s continued growth has silenced many critics.Why Adani’s Move Doesn’t Shake Modi’s GovernmentThe attempt to tie Adani’s resignation to Modi’s government is a classic case of grasping at straws. The Modi administration’s stability rests on its electoral mandate, policy achievements, and public support, not on the corporate decisions of a single business group, however influential. Modi’s government has driven transformative initiatives—Digital India, Make in India, and Swachh Bharat—while navigating challenges like demonetization, GST implementation, and the COVID-19 pandemic. Each time detractors predicted collapse, the government emerged stronger, backed by a robust economy and global recognition.
Adani’s role as a key infrastructure player complements India’s growth story, but his personal decisions do not dictate government policy. The Adani Group’s contributions—handling 28% of India’s port volumes, expanding airports, and investing in green energy—align with national priorities, but they are not the sole pillars of Modi’s governance. The government’s focus on infrastructure, manufacturing, and digitalization transcends any single corporate entity. To suggest that a routine corporate reshuffle signals political doom is not just illogical but a deliberate attempt to mislead.Slapping the Rumor-MongersThe individuals and groups spreading these rumors are not just misguided; they are engaged in a calculated campaign to undermine both Adani’s achievements and Modi’s leadership. Their tactics are predictable: amplify half-truths, cherry-pick statements from opposition leaders like Pawan Khera, and exploit any corporate or political development to fit their narrative. For eleven years, they have failed to deliver on their predictions of Modi’s downfall, yet they persist, recycling the same tired tropes. Their obsession with portraying Modi’s government as the “worst in the world” ignores India’s economic ascent, global diplomatic clout, and infrastructure boom.These detractors also misrepresent Adani’s journey. Far from signaling his “end,” his transition to a non-executive role is a strategic pivot, enabling him to steer the Adani Group’s diverse portfolio while ensuring compliance with corporate laws. His son, Karan Adani, has been managing port operations as Managing Director since January 2024, indicating a planned succession strategy. The Adani Group’s FY25 revenue of ₹2.71 lakh crore ($32.7 billion) across its listed companies underscores its financial strength, belying claims of collapse.The Road Ahead: Adani’s Legacy and Modi’s VisionGautam Adani’s redesignation is a chapter in his ongoing saga, not its conclusion. His focus on emerging sectors like green hydrogen, data centers, and airports positions the Adani Group as a driver of India’s future growth. Meanwhile, Modi’s government continues its march toward a $5 trillion economy, undeterred by baseless rumors. The synergy between Adani’s infrastructure investments and Modi’s development agenda is evident, but it is not a dependency. Both entities thrive independently, united by a shared vision of a stronger India.
Those who link Adani’s resignation to Modi’s downfall are not just fools; they are architects of a failed narrative. Their predictions have crumbled under the weight of facts—Modi’s electoral victories, India’s economic rise, and Adani’s global stature. It’s time they faced the mirror: their stories are not just wrong; they are irrelevant. As Adani charts new horizons and Modi steers India forward, the rumor-mongers deserve nothing less than a metaphorical slap for their persistent folly.