Since the Modi Govt came to power in 2014, India Foundation of Shaurya Doval (son of NSA, Ajit Doval) has suddenly became India’s most influential tank’. Surprisingly, 4 Union Ministers are its directors-Union Defence Minister, Smt Nirmala Sitharaman, Union Commerce & Industry & Civil Aviation, Shri Suresh Prabhu MoS Civil Aviation, Shri Jayant Sinha & MoS, External Affairs, Shri M J Akbar. The icing on the cake is Shri Ram Madhav, National General Secretary of BJP, who is also a director.
India Foundation refuses to disclose its source of revenue or the amount thereof. With Union Ministers as its directors & foreign and Indian companies leveraging their support and sponsoring foundation events, conflict of interest is writ large. For example – Indian Ocean Conference, 2016 & SMART Border Management Conference, 2017 of India Foundation were co-sponsored by various foreign Defence & Aviation companies like the ‘Boeing’ & the Israeli Arms & Security Company ‘Magal’; as also foreign banks like DBS and other Indian companies. All of them have also direct dealings with the Ministries under the charge of the 4 Ministers. Shaurya Doval also runs a private equity firm ‘Zeus Capital’ that merged with ‘Gemini Financial Services’ in 2016. His partner, Syed Ali Abbas also represents Pakistan in Global Block chain Business Council. The other partner is from Saudi Arabia. Turnover is over a Billion US Dollar, yet they refuse to divulge details. Why?