The mess we have created
At a time when even my mom complains the country’s infrastructure investment needs immediate correction, there is an interesting drama unfolding in Kerala.
When the state government invited bids for development of Vizhinjam port, only one company did so, Adani Ports & SEZ Ltd. In most cases, the project would have been handed over, agreements signed, photo-op arranged and everyone gone home smiling.
Not in Kerala. One political party is saying the decision to privatise the port is a good idea but it should not be given to this Adani fellow, a friend of the man they love to hate. The other political party is saying this is a complete sell-out, irrespective of the fact that the lone bidder will bring ~6000 crore of hard-earned money (or debt) to invest.
Which got me thinking on the subject of personal brands. When you think of ‘Gautam Adani’, what image is evoked? I asked this at dinner last night. These are the answers I got: ‘big businessman’ and ‘Modi’s partner’ and ‘a man who wheels and deals to get his work done.’
That got me thinking even deeper. Whenever an individual in India outperforms in mature industry spaces, we immediately assume this could not have been done through a combination of vision, pluck and perseverance. So, by an extension, what’s happening in Kerala is not one-off. It is a reflection of what we are, as a country, as individuals.
I researched Adani deeper. Adani’s companies are India's largest in private sector port creation and management (private sector), SEZ scale, edible oil capacity, thermal power capacity, coal import and owner of the world’s largest coal tenement (Carmichael, Australia). It would have been good for the man to have created a name in one; here is someone who bats like Tendulkar (Sachin), bowls like Lillee (Dennis), keeps wickets like Kirmani (Syed), fields like Solkar (Eknath) and leads like Brearley. Gary Sobers multiplied by four.
If Adani Mining stopped operations, there would be a blackout in India because the company accounts for 40 per cent of all the country’s thermal coal imports. The Adanis created the largest transmission capacity in India’s private sector (5,000 km) in only six years. Adani Power was the first power generating company in India to commission a supercritical generation technology (Mundra). Adani Power established the world's largest, single-location, private sector power plant of 4,620 Mw at Mundra. Adani Power’s land use per Mw is almost 50 per cent lower than the industry standard. Adani has a footprint in eight ports; the nearest competitor in two.
If you didn’t know about this, would you say the Adani PR engine failed? Again, the issue goes deeper. In India, we celebrate starlets, not people who create assets and jobs. When someone succeeds, we look for downsides. When someone fails, we feel more secure. In the rare instance, when someone sticks one’s neck to praise, we say ‘planted’. So, when it comes to this economic slowdown and infrastructure mess, remember who created it in the first place. The answer is ‘us’.