New Delhi, October 27 (IANS). Experts have raised questions on the recent report of ‘The Washington Post’ regarding LIC’s investment in Adani Group and said that it is an attempt to create controversy before the upcoming Bihar Assembly elections.
Experts further said that this report seems to be politically motivated, because it has come at a time when India’s economy is growing at a fast pace and investor confidence in the market is increasing.
Commenting on the issue, Sriram Subramanian, founder and managing director of InGovern Research Services, told news agency IANS that politicization of investment decisions by India’s largest insurance company is not in the interests of investors or the broader economy.
He asked, “When foreign investors can invest in Indian companies and earn profits, why can’t LIC do the same?”
US media outlet reports allege that the government pressured LIC to invest $3.9 billion in Adani Group, which also includes an investment of $568 million (Rs 5,000 crore) in May 2025.
Experts say that foreign investors are continuously making profits from Indian infrastructure companies, so raising questions on LIC’s investment does not seem logical and is probably aimed at weakening domestic institutions.
Political analyst Tehseen Poonawala criticized the foreign narrative of targeting Adani Group. He further said that some time ago such attacks were made on behalf of short-selling firm Hindenburg, which later proved to be baseless.
Speaking to IANS, he said, “The foreign policy of hitting and running Indian companies can also harm the country’s economy.”
Poonawalla said LIC manages assets worth more than Rs 57 lakh crore, of which Rs 14.5 lakh crore is invested in equities.
At the same time, LIC’s exposure in Adani Group is about Rs 56,000 crore, which is less than 1 percent of its total portfolio.
He further said that LIC has so far only benefited from the investment of Adani Group.
LIC has already issued an official rebuttal to the Washington Post article, clearly calling it “false, baseless and far from the truth”.
–IANS
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