Hindenburg’s allegations made headlines around the world, but many Indian media outlets ignored or dismissed them, or condemned the authors.
Many echoed the Adani Group’s claim that the Hindenburg Report was a deliberate “attack on India”, with one television panelist describing it as an act of “financial terrorism” against the country.
The group’s founder has a close relationship with Prime Minister Narendra Modi, and opposition lawmakers say the two have benefited from their mutual cooperation.
Critics say the Indian media’s reluctance to investigate Adani’s allegations reflects the close relationship between the two men.
Manisha Pandey, a journalist at Newslaundry, a website known for its critical coverage of India’s media landscape, said, “Adani’s story being mixed with Modi’s story has a lot to do with it.”
India has about 400 television news channels, but the Modi government generally benefits from enthusiastically positive coverage.
According to Pandey, the Hindenburg report was seen “not only as an attack on a corporate house, but as an attack on Modi, his decisions, his tenure”.