Rahul links Modi-US trade deal to Adani case
India’s top opposition leader, Rahul Gandhi, has criticised Prime Minister Narendra Modi, alleging that a recent Indo-US trade agreement may have been influenced by the potential resolution of legal cases against Indian billionaire Gautam Adani.
The criticism follows reports that the US Justice Department is close to dropping criminal fraud charges against Adani, who has also reached a settlement in a related civil fraud case with the Securities and Exchange Commission (SEC), subject to court approval.
The criminal case, filed by federal prosecutors in Brooklyn in November 2024, accused Adani of participating in a scheme to bribe Indian government officials to secure approval for India’s largest solar power project.
The SEC case involved similar allegations of misleading investors.
Adani, one of the world’s wealthiest individuals with an estimated net worth of $82 billion, has pledged to invest $10 billion in the US economy and create 15,000 jobs, a commitment made after the 2024 US presidential election.
According to sources, Adani’s legal team, led by lawyer Robert Giuffra—who is also known to have represented former US President Donald Trump—argued that the criminal case lacked jurisdiction and sufficient evidence.
Adani and his nephew, Sagar Adani, will pay civil penalties of $18 million in the SEC case, without admitting or denying any wrongdoing, court records show.
Their lawyers maintained that the alleged misconduct occurred in India and that US securities were not directly involved, calling the SEC claims “impermissibly extraterritorial.”
Reacting to these developments, Rahul Gandhi accused the Indian Prime Minister of prioritising the legal settlement for Adani over national interests, while Congress General Secretary Jairam Ramesh described the trade deal as “heavily one-sided” in favour of the US.
The trade agreement between India and the US, recently signed by Prime Minister Modi, aims to strengthen bilateral economic and strategic ties amid global energy volatility, rising fossil fuel prices, and fragmented international trade.
Analysts note that the timing of the Adani case resolution and the trade deal has drawn significant political attention both in India and internationally.
Officials from both the US Department of Justice and the SEC declined to comment beyond court filings, while Adani Green Energy confirmed the settlement and stated that a final judgement from a New York court is pending.
The outcome of these cases has implications for India-US economic relations, investor confidence, and ongoing efforts to stabilise global energy and financial markets.
