An explosive Washington Post investigation has revealed that Indian government officials drafted and approved a US$3.9bn (billion) plan to direct taxpayer-backed investments from the Life Insurance Corporation of India (LIC) into companies owned by billionaire Gautam Adani, a close ally of prime minister (PM) Narendra Modi. According to internal documents obtained by The Washington Post reporters Pranshu Verma and Ravi Nair, the plan was conceived in May 2025 as Mr Adani’s debt-laden conglomerate faced mounting repayment pressure. The strategy — coordinated by officials from the department of financial services (DFS), the ministry of finance (MoF), LIC, and the government think tank NITI Aayog — aimed to 'signal confidence in Adani group' and 'encourage participation from other i

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