New Delhi, Oct 27 – Experts on Monday raised eyebrows at a recent report that said the Indian government pushed the Life Insurance Corporation of India (LIC) to invest heavily in the Adani Group. They claimed the timing of the story, just before Bihar’s elections, looks like a deliberate move to stir controversy.
The report, published by a U‑S‑based outlet, said the government pressured LIC to commit up to $3.9 billion in Adani shares, including $568 million (about Rs 5,000 crore) in May 2025. Critics say the claim is politically motivated, especially as India’s economy shows strong growth and markets stay confident.
Shriram Subramanian, founder and managing director of InGovern Research Services, told that turning LIC’s investment choices into a political debate hurts investors and the economy. “When foreign investors can earn profits in Indian companies, why can’t LIC do the same?” he asked.
Political analyst Tehseen Poonawalla also slammed the narrative. He pointed out that similar short‑selling attacks on Indian companies have happened before, often proving baseless. “This hit‑and‑run policy can damage the country’s economy,” he said. Poonawalla highlighted that LIC’s total assets are around Rs 57 lakh crore, with Rs 14.5 lakh crore in equities, and that its stake in Adani is only about Rs 56,000 crore—less than 1 per cent of its portfolio. “LIC has only gained from its investment in Adani, never lost,” he added.
LIC has already rebutted the Washington Post article, calling the accusations “false, baseless, and far from the truth.”
The debate underscores how investment decisions by India’s biggest insurer are being used in a political showdown just before the Bihar elections.
Source: ianslive
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