Washington, May 19 (IANS). The resolution of the legal case related to Adani Enterprises Limited has removed a major hurdle in the growing India-US economic partnership and has opened the way for new Indian investments in the US. This statement was given by the US-India Strategic Partnership Forum (USISF) on Monday.
Dr. Mukesh Aghi, President and CEO of USISPF, said, “The US Department of Justice’s decision in the Adani Enterprise case brings to an end an ongoing legal case that had been an obstacle to a stronger US-India economic partnership.”
USISPF’s statement comes at a time when the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced on Monday that Adani Enterprises Limited has agreed to pay $275 million to settle potential civil liability for 32 alleged violations of Iran-related sanctions.
Aghi said Adani Group’s planned investments in the US reflect the broader trend of increasing interest of Indian companies in the US market.
“The commitment to invest $10 billion by Adani Enterprises builds on the recent announcement by US Ambassador Sergio Gore in which he said Indian companies are planning to invest more than $20.5 billion in various sectors in the US,” he said.
The USISPF chief said Indian companies view the US as a long-term strategic and economic partner.
“At USISF, we strongly believe that these investments reinforce the desire of Indian companies to be strong partners in the United States,” Aghi said.
He further said that Indian investments will contribute to economic growth and job creation in both the countries.
“These investments will further strengthen existing cooperation, boost job creation, strengthen infrastructure and drive long-term bilateral economic growth,” he said.
India and the US have significantly expanded economic and strategic cooperation over the past decade, with trade, defence, energy and technology emerging as key pillars of the relationship.
Indian companies have steadily increased investment in the US, particularly in the infrastructure, technology, manufacturing and renewable energy sectors.
USISF has played an active role in promoting commercial relations between the two countries and regularly works with policymakers and industrialists in Washington and New Delhi to strengthen bilateral trade relations.
–IANS
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