Trump bans anti-bribery law, know what effect this decision will have on the Adani case

US President Donald Trump has directed the ban on the decades-old anti-graft law. It is significant that the Biden administration had taken action against India's Adani Group under the law. The Foreign Corrupt Practices Act (FCPA), prohibited by the Trump administration, makes it illegal for US-related companies and people to offer cash, gifts, or any type of bribe to foreign authorities in order to gain their business in foreign nations.

It is worth noting that President Trump had also considered banning this law during his first term. According to media reports, Trump said about the FCPA law 'This law looks good on paper, but in practice, it is very bad. According to this law, if an American wants to go to another country and do business there legally, legitimately, or in any other way, then according to this law, he will definitely have to face investigation and prosecution, and no one wants this to happen to him.'

It is noteworthy that the prosecution against the  Adani Group in the US during the previous Biden administration was also done under this law. Adani Group was accused that some of its officials had given a bribe of $ 250 million to Indian officials to get solar energy contracts in India. However, the Adani Group outright rejected the allegations of the Biden government.

The White House issued a statement saying that the FCPA law was against American citizens and businesses. Through this, our own government wastes its limited prosecution resources in the normal business activities of other countries, as well as American economic competitiveness and national security are also harmed by this. The statement said that the Trump administration wants to eliminate as many barriers to trade as possible. After this decision of the US government, the shares of Adani Group have seen a jump.

It is worth noting that six US lawmakers had also recently written a letter to Attorney General Pam Bondi saying that the earlier action taken by the Justice Department was not only misleading but could also harm America's relations with important allies like India. The lawmakers called it a foolish decision of the Biden government.