Adani case closure a booster for India-US economic ties: USISPF

WASHINGTON: The resolution of the legal matter involving Adani Enterprises Ltd removes a major distraction from the growing India-US economic partnership, and could pave the way for fresh Indian investments in the United States, the US-India Strategic Partnership Forum (USISPF) said on Monday.

“The US Department of Justice's resolution in the case involving Adani Enterprise brings closure to the ongoing legal matter, which has been a distraction to the otherwise strong US-India economic partnership,” said Dr Mukesh Aghi, President and CEO of USISPF.

His remarks came after the US Department of the Treasury’s Office of Foreign Assets Control announced a $275 million settlement with Adani Enterprises Limited over alleged violations related to Iran sanctions.

Aghi said the Adani Group’s planned investments in the United States reflected a broader trend of growing Indian corporate interest in the American market.

“Adani Enterprise’s commitment to invest $10 billion builds on US Ambassador Sergio Gor's recent announcement that Indian companies plan to invest more than $20.5 billion across various sectors in the United States,” he said.

The USISPF chief said Indian companies increasingly view the United States as a long-term strategic and economic partner.