Unpicking the labyrinth that is India's Adani

Companies like Adani Group have achieved enormous success through strong ties with governments

Indian multinational Adani Group is becoming a more familiar name in Australia, as the company’s interest in its proposed Carmichael coal mine in Queensland grows. At the same time, there are concerns the arrangement may shift some of its likely revenue, even if it does deliver on all of the promised business and job opportunities for Australia.

Profit shifting has been tied to the labyrinth of financial structures and ownership, related to different companies within the publicly listed Adani Group and/or family members. Even though this setup draws scrutiny