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People were concerned about the Adani LIC collaboration because LIC is the largest insurance company in India and has a large number of policyholders. Adani Group is a rapidly growing conglomerate that has faced several hardships including debt. Some people were concerned that LIC’s investments in Adani Group companies were too risky and could put policyholders’ money at risk. Others were concerned that the collaboration was a conflict of interest, as LIC is a state-owned company and Adani Group is privately owned.
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