Trump's Order May Impact Adani Bribery Case Amid Modi Visit

President Trump's executive order directing the Attorney General to review the Foreign Corrupt Practices Act (FCPA) could affect the case against Gautam Adani and the Adani Group, indicted for allegedly bribing Indian officials. The order, issued days before Prime Minister Modi's visit to Washington, instructs the AG to review FCPA guidelines and halt new cases, potentially influencing the Adani case. The order cites concerns that the FCPA is overly broad and harms American business competitiveness. It directs the AG to review existing investigations and consider remedial measures. The Adani Group was indicted in November for allegedly orchestrating a $265 million scheme to bribe Indian officials for green energy deals. The timing of the order, coinciding with Modi's visit, raises the possibility of discussions on economic cooperation and competition with China. The Adani Group's shares saw a surge following the announcement. Trump's order emphasizes the need for US companies to gain strategic business advantages and reduce barriers to commerce. The AG is instructed to issue updated guidelines and policies, with future FCPA actions requiring specific authorization. The Adani Group denies the bribery allegations, calling them baseless. The case involves charges of orchestrating bribes, violating anti-corruption laws, and fraudulently raising funds from US investors. The indictment had previously caused a significant drop in the group's market value and triggered political controversy in India. The executive order suggests a potential hold on the case, pending new guidelines and the AG's decision.