White House Responds to Allegations Against Adani Group, Affirms Strong U.S.-India Relations

White House Acknowledges Adani Allegations, Assures Confidence in Resolving Matter: The White House has issued its first official response to the bribery and fraud allegations against Gautam Adani and the Adani Group in the United States. The U.S. administration stated it is aware of the case and expressed confidence in its capacity to manage the situation. The case concerns India’s largest solar power project, which had projected profits of $2 billion for Adani Group. Allegations suggest that eight members of the Adani Group offered bribes amounting to $265 million (around Rs 2,120 crore) in relation to this project.

U.S.-India relations remain stable

On the evening of November 22, White House Press Secretary Karine Jean-Pierre addressed the media about the matter. Jean-Pierre confirmed that the U.S. government is aware of the accusations facing Gautam Adani and his company, emphasizing that U.S.-India relations remain stable and are built on "deep trust and extensive cooperation." Jean-Pierre underscored that the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) would handle the investigation, adding that both agencies have full details of the allegations.

Adani Group Denies Allegations, Plans Legal Action

In response to the allegations, the Adani Group has firmly denied any wrongdoing, labeling the claims as baseless. The group clarified that it would pursue all available legal options to defend its position. Despite this, the group accepted the allegations in a U.S. court as part of the legal process. Following these developments, Adani Group's stocks in Mumbai experienced a 23% drop. Adani reiterated in a statement that the charges against the group's directors were unfounded and assured stakeholders of their commitment to defending their integrity in court.

The unfolding investigation by U.S. regulatory bodies is expected to shed light on the validity of these claims, and both governments will monitor the case closely while prioritizing the ongoing strength of U.S.-India relations.