The White House acknowledged the serious allegations against Indian billionaire Gautam Adani, recently indicted in New York for his alleged involvement in a bribery and fraud scheme. US prosecutors accuse Adani and seven other individuals, including his nephew Sagar Adani, of orchestrating a plan to pay over $250 million in bribes to Indian government officials in exchange for lucrative solar energy contracts. The contracts were expected to generate $2 billion in profit over two decades and aimed to develop India’s largest solar power project.
During a media briefing on Thursday, White House Press Secretary Karine Jean-Pierre addressed the matter, confirming the administration’s awareness of the charges. She emphasized that the longstanding relationship between India and the US would remain resilient in the face of the allegations. Jean-Pierre emphasized US-India ties, expressing confidence while deferring case details to the SEC and DOJ for ongoing investigation updates. Adani Group, in response to the charges, strongly denied the allegations. The conglomerate issued a statement calling the accusations “baseless” and vowed to pursue all available legal options. This came after Adani Group shares plunged by more than 23% in Mumbai, following the indictment. The company also expressed its commitment to protecting its reputation and business interests.
Meanwhile, political reactions in India have been sharp. Opposition leader Rahul Gandhi called for Adani’s immediate arrest, accusing Prime Minister Narendra Modi of shielding the billionaire. Gandhi alleged that Adani “controlled” Modi, a claim swiftly rejected by the ruling Bharatiya Janata Party (BJP). BJP’s Sambit Patra criticized Gandhi’s remarks as political, asserting the law will prevail amid scrutiny of Adani’s business empire. The outcome of the investigation could have significant implications for both Adani Group and India’s broader business and political landscape.
(By Ankita Singh, Web Team at C6N)
