India-US ties built on strong foundation: White House confident in navigating crisis over Adani bribery charges

Gautam Adani

Asserting that the relationship between India and the US is built on a strong foundation, the White House is confident that it can navigate the recent crisis around bribery charges against billionaire Gautam Adani.

At her daily news conference, White House Press Secretary Karine Jean-Pierre told reporters on Thursday that the administration is aware of the charges against Adani.

Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over $250 million (about Rs 2,100 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts.

“Obviously we're aware of these allegations, and I would have to refer you to the SEC (Securities and Exchange Commission) and DOJ (Department of Justice) about the specifics of those allegations against the Adani Group,” she said.

“What I will say is on the US and India relationship, we believe that it stands on an extremely strong foundation anchored in ties between our people and cooperation across a full range of global issues,” Jean-Pierre said.

“What we believe and we're confident about is that we'll continue to navigate this issue as we have with other issues that may have come up as you just stated. And so the specifics of this, this is something that the SEC and DOJ can speak to directly, but again, we believe that…this relationship between India and the US has been built on a strong foundation,” the Press Secretary said.

Meanwhile, Adani group stocks fell further on Friday, November 22, extending losses after the previous day's carnage.

Adani Enterprises stock fell 4 percent to Rs 2,095 on NSE in the opening trade; Adani Green Energy fell 9 percent to Rs 1,040; Adani Energy Solutions fell 4.5 percent to Rs 665; Adani Port and SEZ fell 3 percent to Rs 1,084.

Also Read | S&P cuts outlook on Adani Ports, other group firms to negative; flags funding, cash flow risks after bribery charges