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Andy Mukherjee

India’s New Economy Can’t Be a Monopoly Board

Investors will lose faith if the post-virus recovery game is won by a narrowing number of tycoons.

Pass Go and collect the economy.

Pass Go and collect the economy.

Photographer: John Mutrux/Kansas City Star/Getty

Two years ago, India rolled out a laudable plan to unlock the capital trapped in some of its smaller airports. But the actual outcome from privatization was less than reassuring: All six airfields put on the block went to one bidder. 

If that wasn’t enough, multiple media reports now say that Ahmedabad, Gujarat-based billionaire Gautam Adani, an early and enthusiastic supporter of Prime Minister Narendra Modi, might also succeed in taking control of the already-privatized Mumbai airport, as well as a new one coming up on the financial center’s outskirts.