Gautam Adani's US Fraud Charges Ripple Through India's Economy and Politics
Originally Published 1 year ago — by BBC.com
Gautam Adani, a prominent Indian billionaire and ally of Prime Minister Narendra Modi, faces US fraud charges alleging a $250 million bribery scheme, impacting his $169 billion business empire. The allegations have led to a $34 billion loss in market value for Adani Group companies and raised concerns about the implications for India's economy and politics. Despite the charges, experts suggest that while Adani's global expansion plans may face hurdles, the broader US-India business relationship is unlikely to be significantly affected.