Adani Group to set up a think tank to shape global narrative

The foundation is expected to launch as early as next month with an initial investment of $12 million from Adani’s infrastructure-focused conglomerate, according to sources familiar with the matter. The institute plans to seek additional funding in the future and expand its presence with branches in major Indian cities like Mumbai and Bengaluru, as well as internationally in Washington, DC, and possibly London

Indian billionaire Gautam Adani is in the advanced stages of establishing a globally focused think tank, even as independent research groups in the country face increasing scrutiny from authorities. This initiative is part of the corporate house’s strategy to engage with the intellectual community and potentially mitigate criticism.

The New Delhi-based institution, tentatively named the Chintan Research Foundation, will concentrate on topics such as climate change, energy transition, and international politics. The foundation is expected to launch as early as next month with an initial investment of $12 million from Adani’s infrastructure-focused conglomerate, according to sources familiar with the matter.

The institute plans to seek additional funding in the future and expand its presence with branches in major Indian cities like Mumbai and Bengaluru, as well as internationally in Washington, DC, and possibly London. The Adani Group declined to comment on the venture.

Headhunters have been appointed to hire a chair and international advisory board for the proposed independent research institute, with the Adani Group’s involvement kept at “arm’s length”, said sources.

Adani wants to create a “world-class think-tank” that can help frame research and narratives “with the global south in mind”, they added. “It will be very professionally run.”

The plans by the self-made billionaire, who has openly tied his business interests to India’s development goals, complement Prime Minister Narendra Modi’s desire to position his country as a leader and voice for developing nations.

Modi successfully pushed for inclusion of the African Union as a full member of the G20 during India’s festival-like hosting of the summit last year, during which local TV stations framed New Delhi’s role as “Vishwaguru India”, or “India as the world teacher”. Adani is the latest Indian corporate leader to move into the country’s research arena. Reliance Industries, controlled by Asia’s richest man Mukesh Ambani, is a major funder of the Observer Research Foundation, which runs the Raisina Dialogue forum on geopolitics in partnership with India’s foreign ministry.

Adani’s entry comes during a perceived crackdown against charitable groups and non-government organisations, which are tightly monitored by India’s home affairs ministry.

The New Delhi-based Centre for Policy Research, a highly regarded think-tank whose researchers have published work critical of government policy; Oxfam India; and the Independent and Public-Spirited Media Foundation, which funds journalism, have been subjected to raids by tax officials.

The CPR last year was stripped of its tax-exempt status and permission to raise foreign funds, causing a staff exodus after it was unable to pay salaries in full.

Talking to Bizz Buzz, Arun Kumar, retired professor of economics at JNU said, “Corporates need to soften their image by promoting social and intellectual activity. So they set up think tanks and fund the same from their CSR funds. It also helps them soften criticism.”

Adani has been seeking to rebuild his international image and reach after bruising claims were levelled by Hindenburg Research. The US short seller alleged his conglomerate engaged in extensive corporate fraud and stock price manipulation. US federal prosecutors are also probing an Adani company and the group’s founder for potential bribery violations. The conglomerate has repeatedly denied any wrongdoing and previously said it was “not aware of any investigation against our chairman.”