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.

“At USISPF, we firmly believe these investments underpin Indian companies’ desire to be strong partners in the United States,” Aghi said.

He added that Indian investments would contribute to economic growth and employment generation in both countries.

“They will build on existing collaboration, further advance job creation, strengthen infrastructure, and boost long-term bilateral economic growth,” he said.

India and the United States have significantly expanded economic and strategic cooperation over the past decade, with trade, defence, energy and technology emerging as major pillars of the relationship.

Indian companies have steadily increased investments in the United States, particularly in infrastructure, technology, manufacturing and renewable energy sectors.

USISPF has played an active role in promoting commercial engagement between the two countries and frequently works with policymakers and industry leaders in Washington and New Delhi to strengthen bilateral business ties.

IANS