https://sputniknews.in/20241204/biden-trying-to-scare-away-foreign-investors-from-india-industry-sources-8493010.html
Biden Trying to Scare Away Foreign Investors from India: Industry Sources
Biden Trying to Scare Away Foreign Investors from India: Industry Sources
Sputnik India
The main purpose of sustained Deep State attacks against India's ports-to-mining Adani Group, and in turn against India Inc and capital markets, is to scare away foreign institutional investors (FII) from India, industry sources said
2024-12-04T19:49+0530
2024-12-04T19:49+0530
2024-12-04T19:51+0530
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bharatiya janata party (bjp)
narendra modi
stock price manipulation
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The main purpose of sustained United States Deep State attacks against India's ports-to-mining Adani Group, and in turn against top Indian corporations and capital markets, is to scare away foreign institutional investors (FII) from India, industry sources said.This comes a day after French outlet Mediapart reported that the Organised Crime and Corruption Reporting Project (OCCRP) had been majorly funded by the US Agency for International Aid (USAID), which reports to the State Department.They noted with "cautious optimism" that the trend of FII outflows from India seems to have somewhat been reversed in recent weeks since the election win of Donald Trump and Bharatiya Janata Party (BJP)-led Mahayuti alliance's victory in the Maharashtra state election, adding that India's growth story would continue to face motivated attacks from Deep State fronts.Further, they pointed out that as far as Adani scrips were concerned, they have witnessed outflows of Norwegian and Canadian FIIs, viewed as one of the biggest investors in Indian markets.Adani stocks continued to enjoy the confidence of other big-ticket FIIs such as Global Quality Growth (GQG) Partners and International Holding Company (IHC), as seen by their respective statements after the US indictment last month, they assured.The OCCRP has worked in "close coordination" with the US government arms to advance its geopolitical interests, sometimes at the expense of India, which has been publicly declared one of the Biden administration's closest partners in the Indo-Pacific, the sources stressed.This was demonstrated when the OCCRP report from last August, which accused Adani family members of channelling funds from Mauritius to manipulate stock market prices in India, contradicted findings from a Supreme Court expert committee, which had found no evidence of any breach of the Minimum Public Shareholding (MPS) requirements or stock price manipulation, industry sources noted.Commenting on the Hindenburg Research reports, the sources said there wasn't any clinching proof as of now that the short-seller was part of the "same game plan".
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Biden Trying to Scare Away Foreign Investors from India: Industry Sources
19:49 04.12.2024 (Updated: 19:51 04.12.2024) The media revelation that OCCRP is funded by the US, which also vetoed appointments, supports claims that the Biden administration, on the diktat of the US Deep State, is undermining India’s economic interests, industry sources told Sputnik India.
The main purpose of sustained United States Deep State attacks against India's ports-to-mining Adani Group, and in turn against top Indian corporations and capital markets, is to scare away foreign institutional investors (FII) from India, industry sources said.
This comes a day after French outlet Mediapart reported that the Organised Crime and Corruption Reporting Project (OCCRP) had been majorly funded by the US Agency for International Aid (USAID), which reports to the State Department.
"They have been largely successful in doing so, as seen in the continued selling of Indian equities over the last few months, or the stock market volatility in the wake of the first Hindenburg Report last January, or the indictment by the US Department of Justice last month," Indian industry sources stated.
They noted with "cautious optimism" that the trend of FII outflows from India seems to have somewhat been reversed in recent weeks since the election win of Donald Trump and Bharatiya Janata Party (BJP)-led Mahayuti alliance's victory in the Maharashtra state election, adding that India's growth story would continue to face
motivated attacks from Deep State fronts.
"The Biden administration has worked on the diktat of the Deep State, as shown by the revelations against OCCRP," the sources stressed.
Further, they pointed out that as far as Adani scrips were concerned, they have witnessed outflows of Norwegian and Canadian FIIs, viewed as one of the biggest investors in Indian markets.
"One needs to understand that FIIs need to park their capital to generate profits, seeing a fast-growing Indian economy under Prime Minister Narendra Modi as an attractive option. However, the Deep State has directly discouraged these investments," industry sources said.
Adani stocks continued to enjoy the confidence of other big-ticket FIIs such as Global Quality Growth (GQG) Partners and International Holding Company (IHC), as seen by their respective statements after the US indictment last month, they assured.
The
OCCRP has worked in "close coordination" with the US government arms to advance its geopolitical interests, sometimes at the expense of India, which has been publicly declared one of the Biden administration's closest partners in the Indo-Pacific, the sources stressed.
Sputnik India report previously cited industry sources who reiterated the charge that, under the pretext of targeting Adani and institutions like SEBI and Supreme Court, the Deep State aimed to destabilise PM Modi and "undermine public confidence in him".
This was demonstrated when the OCCRP report from last August, which accused Adani family members of channelling funds from Mauritius to manipulate stock market prices in India, contradicted findings from a Supreme Court expert committee, which had found no evidence of any breach of the Minimum Public Shareholding (MPS) requirements or stock price manipulation, industry sources noted.
Commenting on the Hindenburg Research reports, the sources said there wasn't any clinching proof as of now that the short-seller was part of the "same game plan".
"But there are reasons to believe, especially after these new revelations, that even the short-seller was working in close coordination with arms of the US government, something which we have suspected under the Biden administration," industry sources concluded.
