The Queensland Premier and a delegation of mayors are in India this week, lobbying the Adani group to give the green light to one of the world's biggest coal mines.

If the project does go ahead, the Adani group will be able to shift up to $3 billion in revenue from the Carmichael Mine into a company ultimately owned in the Cayman Islands.

It's the outcome of what one critic calls a "third world pyramid structure" that allows the family-controlled Adani group to shift assets at will.