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Jayant Mundhra
•
Dexter Capital Advisors • 5m
Why just blame Adani Group? 📛📛 Days ago, there was a big furore over Adani depending on Chinese vendors for the machinery to domestically manufacture solar modules and cells. But, that’s highly misleading. And in fact, it’s highly hypocritical. Let’s get to why misleading and why hypocritical, one by one. .. Why is it misleading? -> Because, Adani isn’t the only one to be dependent on Chinese vendors -> In Feb ’24, Business Standard had laid bare, how many Chinese vendors are involved in solar manufacturing projects active the PLI scheme -> As per that, Adani had just 8 vendors, from which, it had requested the Govt to approve visas for merely 13 Chinese nationals, who will come to India to help set up the machinery and train the Indian workforce What about other players? .. Below is the number of Chinese vendors involved in solar manufacturing projects: 65: Indosol 24: Avaada 20: Reliance 17: Waaree 09: AMPIN 06: ReNew 06: Grew Energy 04: Tata Power 03: JSW Energy 03: VS Solar 01: First Solar .. The numbers clearly show: Singling out Adani for relying on Chinese vendors creates a misleading narrative. As the data reveals, almost every major player in India's solar manufacturing industry is doing the same 😅😅 .. That said, let’s get to why this Adani bashing on the subject is also so hypocritical. Almost every industry in India, from textiles to electronics, runs on machinery mostly imported from China, and also from Vietnam, Germany, Japan or Italy. So, why not bash them all. That way, more than half the Indian manufacturing will PROBABLY be dead. .. Machines will have to come from somewhere. But, if India doesn’t produce them, Indians who want to set up manufacturing units will have to import the machines from where they are produced. And common sense - Like most things, the producer is bound to be Chinese. So, why disregard the reality? .. It’s a matter of great joy, if by importing Chinese machinery, we can substitute much higher value of finished Chinese imports with domestically manufactured goods. And to dislike Adani, folks may have a ton of better reasons. Why go for this flawed one? How do you view this?
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