HYDERABAD, India: Israel wants India’s Adani Group to continue to invest in the country, Israel’s envoy to India said on Thursday, affirming the nation’s support for the ports-to-media conglomerate whose billionaire founder is facing bribery allegations in the United States.
“We wish Adani and all Indian companies continue to invest in Israel,” Ambassador Reuven Azar said in an interview with Reuters, adding that allegations by US authorities were “not something that’s problematic” from Israel’s point of view.
The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in multiple other projects with firms in the country, including to produce military drones and plans for the manufacture of commercial semiconductors.
US authorities last week accused Gautam Adani, his nephew, and Adani Green’s managing director of being part of a scheme to pay bribes of $265 million to secure Indian power supply contracts and misleading US investors during fund raising efforts there.
Adani Group has denied all the accusations, calling them “baseless.”
Still, shares and bonds of Adani companies were hammered last week and some partners began to review joint projects.
“I am sure Adani Group will resolve its problems,” Azar said on the sidelines of an event in the southern city of Hyderabad.
