US allegations back on Adani, USISPF CEO said – India-US partnership gets new strength

Washington: Mukesh Aghi, President and Chief Executive Officer (CEO), US-India Strategic Partnership Forum (USISPF), said the US Justice Department’s settlement in the case related to Adani Enterprises ends a legal dispute that had been a disruption in the otherwise strong India-US economic partnership. He said Adani Enterprise’s pledge to invest $10 billion is based on the recent announcement by Ambassador Sergio Gore. Gore had said that Indian companies are planning to invest more than $20.5 billion in various sectors in America.

“At USISPF, we believe these investments reflect the desire of Indian companies to become stronger partners in the United States,” Aghi said. This will strengthen existing cooperation, promote job creation, strengthen infrastructure and accelerate long-term bilateral economic growth.

Adani Group has agreed to pay $275 million to settle allegations of violating US sanctions on Iran. The US Treasury Department’s Office of Foreign Assets Control (OFAC) said the Indian group “cooperated extensively and actively shared information” in the investigation.

The US Justice Department has permanently withdrawn all criminal charges against industrialist Gautam Adani and his nephew Sagar Adani. This completely ended the famous case of securities and ‘wire’ fraud going on in New York.