New York-based stock exchange S&P index removed Adani ports from its index due to their business links with the Myanmar military. In this context S&P, Dow Jones Indices said in a statement that it is removing India’s Adani Ports and Special Economic Zone Ltd from its sustainability index due to the firm’s business relation with Myanmar’s military which is accused of human rights abuses after a coup this year. This decision came in to effect after a report which indicates that Adani Group, India’s largest private multi-port operators had paid $30 million (around Rs. 225 crores) to Myanmar Economic Corporation in ‘land lease fees’ for building a port in Yangon. After this, the shares of Adani Ports were down 1% in early Tuesday trade.
It is to be noted that The military coup of Myanmar killed around 700 protesters which draw international attention including the United States, Britain and other countries.
New York stock exchange removed Adani ports from its index
