India’s infrastructure-focused Adani Group has revived plans for substantial investments in the United States, Financial Times reported on Sunday.
According to the report, the conglomerate is reconsidering funding projects in nuclear power, utilities, and an East Coast port. The development, citing sources close to Gautam Adani, signals a renewed push for expansion in key sectors after a period of cautious investment.
Adani Group chairman Gautam Adani, one of India’s most influential industrialists, had initially committed to investing $10 billion in the U.S. following Donald Trump’s election as president last year. The investment was expected to generate around 15,000 jobs. However, these plans appeared to stall after Adani and seven others were indicted in the U.S. over an alleged $265 million bribery scheme related to a solar energy firm in India.
The Adani Group has dismissed these allegations as “baseless.”
Trump’s Policy Shift Sparks Optimism
According to sources cited by FT, there was a sense of “big relief” within the Adani Group after Trump called for the suspension of the Foreign Corrupt Practices Act (FCPA) in early February. The FCPA serves as the basis for the indictments against those allegedly involved in the bribery case. While Adani himself was not directly charged, the development has raised hopes within the conglomerate that the legal challenges could ultimately collapse.
“With Trump’s arrival, we have reactivated some plans,” a source told FT, but acknowledged that a “Damocles sword” still hangs over Adani due to the uncertainty surrounding the investigation.
Another associate of Adani added, “We are clear about our intentions, but we will hold off until this matter is resolved.”
