Adani is entering into the telecom sector.

Gautam Adani, the 2nd richest man in India, is entering into the telecom sector. Media reports say that, the Adani Group will participate in the auctioning for 5G spectrum, that is going to be held on 26.07.2022. Media reports say that, Adani Group will only enter into the business of providing “private wireless networks (captive networks)” to the industries. However, it is sure that, Adani Group will also enter into the “consumer mobility” (providing mobile service) segment soon. It is being widely recognised that, Gautam Adani is very close to the ruling BJP. Recently, M.C. Ferdinando, the Chairman of the Ceylon Electricity Board, told the Parliamentary Committee that, a power project in Sri Lanka was awarded to Adani Group, based on the pressure created by Indian Prime Minister, Narendra Modi, on Sri Lankan President, Gotabaya Rajapaksa (Indianexpress.com dated 14.06.2022). The entry of cash rich Adani Group in the telecom sector will surely have serious consequences.