The humbling of Gautam Adani is a test for Indian capitalism

little over seven days for a corporate titan to be cut down to size. Only weeks ago was the world’s third-richest man and the self-proclaimed Rockefeller of India. Then a short-seller , investors took fright and $100bn in market value evaporated. Tens of billions have been wiped off the tycoon’s personal wealth. Today the company is racing to show it can meet its debt payments. The humbling in the markets Mr Adani’s pharaonic ambitions. It is also a political embarrassment for Narendra Modi, the prime minister of India and a close associate of Mr Adani. And it confronts Indian capitalism with its in years.