The group has interests in power and port projects across the region, and New Delhi is emphasising that any setback to these won't affect ties
Caught between a row over the price of coal and this week's crash in the share valuations and credit ratings of the Adani Group, a power project being implement- ed by the firm in Bangladesh, planned as a major Indian infrastructure push to pro- vide electricity, may be delayed by another six months, local reports said.
The project is one of a number in the neighbourhood - including those in Sri Lanka, Nepal and Myanmar - that have ac- companied the Narendra Modi govern- ment's "Neighbourhood First" initiative in the past few years. Highlighting the big- ticket announcements, group chairperson Gautam Adani met with regional leaders, including Bangladesh Prime Minister Sheikh Hasina, in September 2022 and the then Sri Lankan President, Gotabaya Raja- paksa. Adani family members had met with senior officials from Myanmar and even Indonesia.
However, with the group's slide in for- tunes and the cancellation of the Adani En-terprises follow-on public offer, govern- ments in neighbouring countries are watching the company's market situation closely, even as the External Affairs Minis- try made it clear that any setback to projects would not affect ties, emphasising that the Adani stock's fall was "not a fo- reign policy issue".
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