The other important point largely overlooked by those crying foul in India is the political dimension to this particular coal project in Australia. The fact is that the government of the state of Queensland has promised an undisclosed amount of money to support the Adani coal mine. That the project is being underwritten to a greater or lesser extent by an Australian state government surely must have figured in SBI’s decision to strike this MoU. After all, with billions already sunk into the project and with state elections looming, it’s unlikely that the government of Premier Campbell Newman would allow such a project, which is a corner stone for his development plans for the state, to fail.