November 22, 2024: In response to the recent bribery and fraud charges against Indian billionaire Gautam Adani, the White House expressed confidence that the strong relationship between the United States and India would help weather the storm.

During a press briefing on Friday, White House Press Secretary Karine Jean-Pierre addressed the growing controversy surrounding Adani, the chairman of the Adani Group, who faces serious allegations in connection with a multibillion-dollar bribery and fraud scheme. Adani, along with his nephew Sagar Adani and other executives, has been indicted in New York for allegedly using deceptive practices to secure lucrative solar energy contracts.

Jean-Pierre acknowledged the charges but emphasized that the U.S. government was focused on the legal proceedings. "We are aware of these allegations, and I would have to refer you to the SEC (Securities and Exchange Commission) and DOJ (Department of Justice) about the specifics of those allegations against the Adani Group," she stated, underscoring the legal process underway.

However, the White House downplayed any concerns that the scandal could strain diplomatic relations between the U.S. and India. Jean-Pierre reaffirmed that the U.S.-India relationship is "anchored in ties between our people and cooperation across a full range of global issues," including trade, defense, and climate action.

"Our bilateral ties stand on an extremely strong foundation, and we are confident that we will continue to navigate this issue, just as we have with other challenges in the past," she said.

The charges stem from an investigation by the Department of Justice (DOJ) and the SEC, which alleges that Adani, his associates, and executives from Adani Green Energy Ltd and Azure Power Global Ltd orchestrated a scheme to defraud U.S. investors and global financial institutions. The fraud allegedly involved misleading statements made to secure funding for a massive solar energy project awarded by the Indian government.

The charges have rocked the Adani Group, whose market value has plummeted by over Rs 2 lakh crore, a significant drop in stock prices that occurred following the release of the news on Thursday. Despite the allegations, the Adani Group has vehemently denied the charges, calling them "baseless."