India election: political rivals’ barbs over ties to tycoons spotlight growing income inequality, rich-poor divide

PM Narendra Modi has alleged Rahul Gandhi made a ‘secret deal’ with the tycoons, while Gandhi has called out Modi for refusing to join him in a debate

Income equality has become a key issue for Indians weary of rising costs of living and stagnant wages, with most workers earning below income potential, analysts say

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People shop for earthen water vessels, known locally as poor man’s refrigerator, from a roadside vendor in Hyderabad, India, on May 2. Photo: AP

Published: 4:00pm, 26 May 2024

Two of Asia’s richest tycoons, Mukesh Ambani and Gautam Adani, have emerged as a flashpoint in India’s general election, with the opposition Congress and the ruling Bharatiya Janata Party (BJP) accusing each other of close ties with the businessmen.

Observers say the trading of barbs between political rivals has spilled over from ties to big businesses to income inequality and the country’s rich-poor divide – issues that will weigh heavily on the ballot.

After being repeatedly accused by Congress party’s Rahul Gandhi about links with the tycoons’ businesses, Prime Minister Narendra Modi turned the tables on the opposition leader, alleging the former had hatched a “secret deal” with the industrialists.

“Overnight, you have stopped abusing Adani and Ambani. There is definitely something fishy,” Modi told a rally in the southern Indian state of Telangana earlier this month. “The shehzada [prince] should declare how much money he has taken from Ambani-Adani.”

Have “tempo [cargo vehicles] with loads of notes [money] reached the Congress?” he asked.

India’s Prime Minister Narendra Modi during an election campaign rally in New Delhi on May 18. Modi has rebuffed charges of income inequality in the country. Photo: AFP

The prime minister’s charge brought a sharp riposte from Gandhi in an election rally about Modi refusing to join him in a debate.