Govt responsible to ensure corporate takeovers done fairly Congress

The Congress stated that the government must prevent stifled competition, oligopolies, monopolies, and ensure fair corporate takeovers. This follows the Adani Group's acquisition of Penna Cements, further expanding its dominance in southern India's cement sector. Party general secretary Jairam Ramesh highlighted a pattern: Adani acquired Ambuja Cements and ACC in September 2022, Sanghi Industries in August 2023, and Penna Cements in June 2024. He claimed Adani is eyeing Saurashtra Cement, Vadraj Cement, and Jaiprakash Associates' cement business. Ramesh quoted ex-RBI deputy governor Viral Acharya, noting monopolies in 40 sectors, impacting economic growth, unemployment, and inflation.