BJP Slams 'Deep State' Plot in Washington Post's $3.9B Adani-LIC Report

A major controversy has erupted over a Washington Post report alleging Indian officials directed the Life Insurance Corporation (LIC) to invest $3.9 billion in the Adani Group, drawing a sharp response from the BJP. BJP leader K. Annamalai stated that 'after failing to weaken the Indian stock market with targeted propaganda against the Adani Group, the so-called ‘Deep State’, has now shifted its focus to India's largest domestic institution'. LIC has vehemently denied the report, calling the claims "false, baseless, and far from truth" and affirming that its investment decisions are independent and follow due diligence. The BJP has defended the 'blue chip' insurer, providing figures that LIC's exposure to the Adani group is a small fraction of its total portfolio, which includes much larger holdings in groups like Tata and Reliance.