Adani Group has revived plans to invest in nuclear power, utilities, and port projects in the US. Gautam Adani is facing legal challenges in the $265 million bribery case. However, Trump has ordered the suspension of enforcement of the Foreign Corrupt Practices Prevention Act (FCPA), which has given relief to the Adani Group.Adani Group is a well-known business group in India. It is an Indian multinational conglomerate, headquartered in Ahmedabad, founded by Gautam Adani in 1988 as a commodity trading business. This group has large-scale businesses in many countries. If their investment plans in the US flourish, then they can also expect relief in the bribery case. According to the report, since Trump’s election, the Adani Group has revived plans to invest in US nuclear power, utilities, and East Coast ports. Adani Group revives plans for big infrastructure investments in the US. The report quoted four people close to founder and chairman Gautam Adani as saying that since the election of President Donald Trump, the group has reactivated potential plans to finance projects in sectors such as nuclear power and utilities, as well as an East Coast port.Federal prosecutors in New York issued an indictment in November accusing Gautam Adani of paying bribes to Indian officials to persuade them to buy power generated by Adani Green Energy.”We know what we want to do, but we will wait till this (case) is resolved,” the FT quoted a person close to Adani as saying. The Adani Group has said the allegations are “baseless” and that it will pursue “all possible legal remedies.” It did not immediately respond to a Reuters request for comment on the FT report.The newspaper said the group had previously been in talks with US companies for potential partnerships and was considering petrochemical investments in Texas.After Trump’s election win in November, Gautam Adani had said the group planned to invest $10 billion in US energy security and infrastructure projects, creating 15,000 jobs.Trump has pledged to make it easier for energy companies to drill and lay pipelines on federal land. “After Trump came to power, we have reactivated some plans,” the FT quoted another source as saying, though it did not name him.The US Securities and Exchange Commission last month sought help from Indian authorities in its probe into allegations of securities fraud and a $265 million bribery scheme against Gautam Adani and his nephew Sagar Adani.In 2023 the group was accused by US-based short-seller Hindenburg Research, which dissolved earlier this year, of improper use of offshore tax havens and stock manipulation that caused shares of group companies to drop by $150 billion. Adani denied those allegations.Talking on this topic, Saket Jha, a senior finance analyst in a top MNC, gave his insight on revamping Adani’s investment plan after Trump assumed power in the US. He said, “Since the election of President Donald Trump, the Adani Group has reactivated potential plans to fund projects in sectors such as nuclear power and utilities, as well as an East Coast port. While there are pending litigations against Gautam Adani and his nephew, and US secretaries and the exchange commission had also previously reached out to Indian authorities for help in the investigation on the matter of bribery and other charges, I guess it is difficult for the Adani Group to take off with their plan until charges are dropped.”
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