Latest news with #RisingNortheastInvestorsSummit2025
The Wire
a day ago
- Business
- The Wire
US Probing Adani Group Over Suspected Iran Petrochemical Imports, WSJ Reports
Menu हिंदी తెలుగు اردو Home Politics Economy World Security Law Science Society Culture Editor's Pick Opinion Support independent journalism. Donate Now World US Probing Adani Group Over Suspected Iran Petrochemical Imports, WSJ Reports The Wire Staff 10 minutes ago The WSJ had earlier reported that Adani's lawyers had asked the US government to drop criminal charges accusing him of orchestrating over USD 250 million in bribes for solar energy contracts in India. Adani Group chairman Gautam Adani addressing the Rising Northeast Investors Summit 2025, in New Delhi. Photo: PTI via X/@narendramodi Real journalism holds power accountable Since 2015, The Wire has done just that. But we can continue only with your support. Contribute now New Delhi: The US Department of Justice is reportedly investigating whether the Adani group had imported Iranian petrochemical products from Iran, according to a report by the Wall Street Journal, even as the conglomerate negotiates a settlement in a separate foreign bribery case. Describing the allegations as 'baseless and mischievous', an Adani Group spokesperson denied any 'deliberate engagement in sanctions evasion or trade involving Iranian-origin LPG'. The Adani spokesperson also stated that it wasn't aware of any investigation by US authorities on this subject. 'The timing of the WSJ's story clearly betrays an intent to adversely influence the DoJ indictment against Adani,' the spokesperson added. The Journal had previously reported on April 13 that lawyers representing Gautam Adani had asked the US Department of Justice to drop criminal charges accusing him of orchestrating over USD 250 million in bribes to secure solar energy contracts in India. The charges, unsealed in October 2024, named Adani, his nephew Sagar Adani, and six other executives across three companies. In a parallel civil case, the US Securities and Exchange Commission (SEC) filed complaints against Gautam and Sagar Adani for allegedly violating anti-fraud provisions of federal securities laws. On May 5, Bloomberg reported that negotiations between Adani's legal team and officials from the Trump administration had intensified and could lead to a resolution 'in the coming month or so.' The Journal 's June 2 report, citing sources, says US prosecutors are 'reviewing the activities of several LPG tankers used to ship cargoes to Adani Enterprises'. The WSJ also did an investigation tracking a group of LPG tankers travelling between Gulf ports and Adani-operated Mundra port. It said they found allegedly tell-tale signs of ships attempting to obscure their activities, which includes manipulating the ship's automatic identification system, or AIS, which shares a ship's position. 'Purchasers of Iranian oil and gas products often use forged documents from Oman and Iraq, according to several people familiar with the trade,' the WSJ reported. The report focuses on a Panama-flagged tanker, SMS Bros (renamed Neel), which according to AIS data was docked in Iraq's Khor al Zubair port on April 3. However, satellite images from the same day reportedly show no trace of the ship there. Instead, a vessel matching its profile was docked at an LPG terminal in Tonbak, Iran. Four days later, the tanker appeared off the UAE coast, with its data indicating it was riding lower in the water – suggesting it had taken on cargo. Although the vessel broadcast an anchorage near Oman's Sohar port, it never appeared to dock there. Two days later, Adani Global PTE contracted the ship to load approximately 11,250 metric tons of LPG at Sohar and transport it to the Mundra port. Indian customs records from April 17 show Adani Enterprises imported a cargo matching the shipment's profile, valued just over USD 7 million. The SMS Bros, a tanker renamed as Neel last year, has shown several discrepancies in its shipping records, with a Bangladeshi port document from June indicating a delivery of Iranian-origin LPG for an unidentified importer, even as its AIS data pointed to a journey to Iraq – similar to a pattern observed in April, according to The Wall Street Journal. Three other LPG tankers linked to Adani's Mundra port also show signs of obfuscation. One, operated by the same company that managed the Neel, exhibited similar spoofing behaviour and appeared on a US Senate watchlist of vessels suspected of transporting Iranian oil and gas. Another broadcast a port call in Khor al Zubair not visible in satellite imagery, while a fourth – frequently docking at Mundra – was named in a 2024 US Energy Department report for exporting Iranian petroleum Adani Group strongly refuted the Wall Street Journal report, calling the LPG segment 'operationally non-material,' accounting for just 1.46% of Adani Enterprises' consolidated revenue of over $11.7 billion in financial year 2024–25. It maintained that all LPG trade conducted by Adani entities complies with domestic and international laws, including US sanctions regulations. The group said it purchases LPG through contracts with reputed international suppliers, undertakes due diligence to ensure none are on the OFAC sanctions list, and uses third-party logistics firms to handle shipping in line with global compliance norms. Responding specifically to the shipment cited in the Journal report, Adani said it was a routine commercial transaction managed by third-party logistics partners, with documentation showing Sohar, Oman, as the port of origin. 'We do not own, operate or track vessels (including the alleged SMS Bros/Neel) and cannot comment on the current or past activity of vessels we have not contracted and do not control,' the group said, adding that all responsibilities of a bona fide importer had been fulfilled. The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments. Make a contribution to Independent Journalism Related News SEBI Warns Mauritius-Based Funds With Investments in Adani Group For Not Giving Shareholding Details 'Unjustified and Solely Politically Motivated': Lokpal Dismisses Pleas Against ex-SEBI Chief Madhabi Buch Talks Intensify Between Adani and Trump Officials Over US Bribery Case: Report 'Kidnapped, Beaten': Three Punjab Men Missing in Iran After Taking 'Dunki' Route The Search for the 'Bandung Spirit' Adani Group Pauses Talks With Israel's Tower For $10 Billion Chip Project: Report Yellow, Black, Blue: How Residents of Mumbai's Govandi Struggle with Dirty Water and an Apathetic BMC Trump's Drive for Ocean Bed Mining Threatens Law of the Sea Violent Pakistan Storms Trigger Floods, Landslides Killing At Least 10 About Us Contact Us Support Us © Copyright. All Rights Reserved.
India Gazette
5 days ago
- Business
- India Gazette
Arunachal CM calls on Governor Lt General KT Parnaik after Rising Northeast Investors Summit
Itanagar (Arunachal Pradesh), [India], May 29 (ANI): Arunachal Pradesh Chief Minister Pema Khandu called on the Governor of Arunachal Pradesh, Lt General KT Parnaik (Retd.) at Raj Bhavan, Itanagar on Thursday. In the meeting that underscored a shared commitment to the prosperity of Arunachal Pradesh and the broader North-eastern region, they discussed the recently held 'Rising Northeast' initiative, organised by the Ministry of Development of North Eastern Region (DoNER). The Governor lauded the vision behind Rising Northeast, calling it a turning point in the developmental journey of the region. He said that the event served as an exhibition of the Northeast's diverse opportunities in manufacturing and services and as a platform to build meaningful partnerships across sectors. Congratulating the Chief Minister Khandu and Deputy Chief Minister Chowna Mein for securing memoranda of understanding with business houses and enterprises, the Governor suggested exploring more avenues for expanding business and pursuing new investments in Arunachal Pradesh. He insisted on seizing the unique opportunity to foster new alliances and long-term collaborations that can transform lives on the ground. The Governor stressed the importance of youth engagement, skill development, and entrepreneurship as key pillars of the state's future. He said that the idea is to create jobs, and also to nurture job creators and entrepreneurs who can contribute to both local communities and the national economy. Chief Minister Khandu shared insights from the interactions during the event, highlighting the enthusiastic response from industry leaders and the concrete outcomes already taking shape. Earlier this week, the Arunachal Pradesh government signed Memorandums of Understanding worth Rs 6,357 crore with 16 investors across diverse sectors during the two-day Rising Northeast Investors Summit 2025, which was held at Bharat Mandapam, New Delhi, from May 23 to 24, to attract investment in the northeastern Region. (ANI)
The Print
7 days ago
- Politics
- The Print
2025 investor summit shows PM Modi's commitment to Northeast
As PM Modi put it , 'For us, EAST is not just a direction—it is a vision: Empower, Act, Strengthen, and Transform. This is the guiding framework of our policy for Eastern India.' The Bharatiya Janata Party (BJP) government, under the able leadership of Prime Minister Narendra Modi, aims to correct this 'gap' between the Northeast and New Delhi. PM Modi has carried forward the vision of Atal Bihari Vajpayee, who saw the necessity of integrating the region with the rest of India. Vajpayee set up the DoNER (Development of North Eastern Region) ministry in 2001 – which became a full-fledged ministry in 2004 – to ensure equitable development and progress in these far-flung but strategically important states. The Rising Northeast Investors Summit 2025 , held recently at the Bharat Mandapam in New Delhi, highlighted the current government's determination to ensure that Guwahati, Agartala, Imphal, and Shillong become the Delhi, Mumbai, Bengaluru, and Hyderabad of the Northeast. India's Northeast has struggled with underdevelopment for decades – due to poor connectivity, cultural isolation, and other crucial factors. Moreover, its proximity to friendly – and not so friendly – neighbours such as China, Myanmar, Bangladesh, Nepal, and Bhutan makes it a geopolitical hotbed. It takes a wise leader to understand the importance of integrating this sensitive region. Also read: India must look beyond Bangladesh. Kolkata-Sittwe-Aizawl corridor is key to Northeast Historical importance Home to over 200 tribes, Northeast India is a culturally, ethnically, and linguistically rich region. I have regularly travelled to Assam, Arunachal Pradesh, and Manipur – both as a Minister of State and a BJP party worker – and have been deeply fascinated by the diversity and traditions I encountered on each visit. On a recent trip to Pasighat in Arunachal Pradesh, I was welcomed warmly by the Adi and Galo tribes. The Galo people presented me with a beautiful handwoven wrap-around half-sari, showcasing the region's cultural heritage. The early years after Independence saw unrest and insurgency due to perceived neglect and alienation, leading to the formation of Nagaland in 1963, and Tripura, Manipur, and Meghalaya in 1972. Arunachal Pradesh and Mizoram became full-fledged states in 1987. The unrest, however, continued. Armed separatist groups such as the United Liberation Front of Asom (ULFA) and National Socialist Council of Nagaland (NSCN) created immense disturbance in the region with support from across the border. Under the present NDA government, many challenges related to insurgency have been handled firmly, and any attempt to create conflict will be handled resolutely and responsibly. Migration from Bangladesh, for instance, has continually reshaped Assam and Tripura's demographics. But BJP-backed initiatives such as the National Register of Citizens (NRC) have brought tentative stability. Also read: Northeast a success story not just for BJP but all of India. It's all about getting to end of bell curve Corridor to Southeast Asia Alliances such as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) have increased the strategic importance of the Northeastern Region, which, in line with the Look East /Act East Policy, serves as India's gateway to Southeast Asia. Regional connectivity, through various development corridors such as the India-Myanmar-Thailand Trilateral Highway and the Kaladan Multi-Modal Transit Transport Project, is removing traditional barriers to regional trade. As revealed at the Northeast investors summit, the Modi government plans to boost economic integration with the Association of Southeast Asian Nations (ASEAN) and increase trade from $125 billion to $200 billion in the next 10 years. Existing Initiatives such as the Mekong Ganga Cooperation support this vision, aiming to promote tourism, culture, and education between India, Cambodia, Lao PDR, Vietnam, Thailand, and Myanmar. Additionally, the Bangladesh, Bhutan, India, and Nepal (BBIN) Motor Vehicle Agreement, the protocol for which was recently finalised, seeks to provide a seamless way for vehicles to travel across borders, greatly benefiting regional supply chains. Also read: Modi's yoga mat to Nagaland honey, NECTAR is taking Northeast to Japan, Netherlands Boosting infrastructure Infrastructure development in the Northeast has increased by leaps and bounds in the last decade or so. At the 2025 investors summit, my former colleague Jyotiraditya Scindia, who also leads the DoNER ministry, praised PM Modi's commitment to the region. Under the PM's leadership, 'the ministry has created eight high-level task forces across key sectors such as agriculture, sports, investment promotion, tourism, economic corridors, infrastructure, textiles and handicrafts, and animal husbandry, allowing each state to chart its own roadmap,' Scindia said. National highways in the region have expanded to over 16,000 km, while airports have nearly doubled — from nine to 17 — between 2014 and 2024. Waterways, too, are being rapidly developed as an alternative form of transportation. Of special significance is Bogibeel, India's longest rail-road bridge, which was inaugurated with great fanfare by previous governments but kept missing completion deadlines. The work was finally expedited and finished under PM Modi in 2018. I recently travelled from Assam to Arunachal on this bridge, which is an engineering marvel – a magnificent 4.94 km rail and road bridge over the Brahmaputra River, designed to withstand earthquakes. This bridge has significantly reduced travel time and gives increased accessibility to the border areas of Tibet via Arunachal. Another engineering feat is the all-weather Sela Tunnel, which provides year-round connectivity between Guwahati in Assam and Tawang in Arunachal Pradesh. Rail projects worth Rs 88,000 crore will boost connectivity in the region; Assam even got its first Vande Bharat Train in 2023. A portion of the Agartala-Akhaura rail line was inaugurated in November that year. The Tata group, on the other hand, is in the process of setting up a semiconductor plant in Assam, with an investment of Rs 27,000 crore. Regular investor summits are being held all over the country to persuade national and international investors to set up their manufacturing plants in the region. My frequent trips to Assam, Arunachal Pradesh, Mizoram and Meghalaya have deepened my respect for Northeastern people. It is clear that they want to be a part of Viksit Bharat 2047 and do not wish to be left behind. I recently interacted with inspirational youth leader Tana Jiri, whose speech on One Nation, One Election, motivated local youth to play an active role in initiating positive change. An advocate for youth rights, Jiri embodies the young generation that wants to participate in the development of India through initiatives such as Swachh Bharat, Viksit Bharat, and the Apun Bahen Scheme. These youngsters are motivated and open-minded, and are happy to adapt to the three-language policy. It is apparent that our forward-thinking PM Modi has a vision for the greatly neglected Northeast states, which he has referred to as India's 'Ashtalakshmi' – eight manifestations of Goddess Lakshmi. The region, rich in minerals, bamboo, and tea and home to sporting legends such as Mary Kom and Baichung Bhutia, is an emerging hub for aspirational India. Rather than neglecting this important corner of the country, PM Modi has fulfilled his promise of taking India, in its entirety, into the future. Meenakashi Lekhi is a BJP leader, lawyer and social activist. Her X handle is @M_Lekhi. Views are personal. (Edited by Zoya Bhatti)
India Gazette
25-05-2025
- Business
- India Gazette
Arunachal govt signs MoUs worth Rs 6,357 crore during Rising Northeast Investors Summit 2025
New Delhi [India], May 25 (ANI): The Arunachal Pradesh government signed Memorandums of Understanding (MoUs) worth Rs 6,357 crore with 16 investors across diverse sectors during the two-day Rising Northeast Investors Summit 2025, which was held at Bharat Mandapam, New Delhi, from May 23 to 24, , to attract investment in the North East Region, as per the official statement. According to the official statement, during the two-day investment summit, the MoUs were signed by the Secretary of Planning & Investment, the Government of Arunachal Pradesh, and the investors' representatives. MoUs were made with Agri-Biofuel Global Ltd. on converting Agri-waste into aviation and maritime fuel for Rs 2,324 crore; with Developer Group India Pvt. Ltd on afforestation and carbon credit monetization for Rs 1,760 crore, on Beema Bamboo Plantation for Bio Fuel for Rs 570 crore and Trial Plantation of Moso Bamboo worth Rs 55 crore. MoU were also signed with Inlamobi Pvt Ltd. for proposed investment of Rs 1,000 crore to establish European Blue Valley Fragrances & Flavours, Ayush Cluster; with Medhavi Group for an investment of Rs 178 crore to establish an Skill, Innovation & Tribal Entrepreneurship University at Ziro which is expected to generate over 430 direct employment opportunities; with Farm Native Group, for the establishment of a 250-bed Super Speciality Hospital involving an investment of Rs 150 crore with a projection to create between 900-1,100 direct jobs and an additional 1,000-1,500 indirect employment opportunities. Additionally, MoUs were also inked with Zedsoftpoint for an investment of Rs 150 crore in Data Centres, IT & ITeS; Vishwakarma & Co. for Rs 100 crore to develop a tourism-focused hotel in Ziro. Other MoUs signed also include proposals related to renewable energy, bamboo processing, herbal and turmeric product development, and promotion of spiritual and heritage tourism. According to the official statement, these investments are expected to generate thousands of direct and indirect employment opportunities for our youth and enhance skill development, innovation, health care services, and agriculture and allied sectors in the State. Deputy Chief Minister of Arunachal Pradesh, Chowna Mein, who is also the Minister-In-Charge of Planning & Investment, witnessed the signing of several significant Memoranda of Understanding (MoUs) between the Department of Planning & Investment, Government of Arunachal Pradesh, and various private sector investors. Welcoming all the investors, Mein said that these MoUs represent a transformational moment for Arunachal Pradesh. 'They reflect growing investor confidence in the State's potential and reinforce our commitment to inclusive and sustainable development,' he said. He invites them to be a part of Arunachal Pradesh's growth story. Mein also commended the Department of Planning & Investment for its proactive efforts in facilitating these partnerships and fostering an investor-friendly environment. 'These investments are expected to play a vital role in enhancing socio-economic development, creating employment opportunities, and strengthening infrastructure across Arunachal Pradesh and the Northeast Region. The State continues to position itself as an emerging investment destination in the region,' he said in the official statement. (ANI)
Time of India
25-05-2025
- Business
- Time of India
Arunachal inks MoUs worth 6,357cr with 16 firms at NE investors summit in Delhi
New Delhi/Itanagar: The Arunachal Pradesh govt signed memorandums of understanding (MoUs) worth Rs 6,357 crore with 16 companies across a wide range of sectors during the two-day Rising Northeast Investors Summit 2025 held at Bharat Mandapam in New Delhi from May 23 to 24. The MoUs were inked between the state's department of planning and investment and representatives of private investors in a bid to attract investments in agriculture, healthcare, renewable energy, tourism and IT, among other sectors. Key agreements include a Rs 2,324 crore deal with Agri-Biofuel Global Ltd to convert agricultural waste into aviation and maritime fuel, and a Rs 1,760 crore MoU with Developer Group India Pvt Ltd for afforestation and carbon credit monetisation. The same group also signed additional MoUs for Beema Bamboo Plantation for Biofuel (Rs 570 crore) and Moso Bamboo trial plantations (Rs 55 crore). Inlamobi Pvt Ltd committed Rs 1,000 crore to establish the European Blue Valley Fragrances & Flavours Ayush Cluster, while the Medhavi Group signed a Rs 178 crore MoU to set up a Skill, Innovation and Tribal Entrepreneurship University at Ziro, expected to create over 430 direct jobs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 3.5, 4.5 BHK Homes starting at ₹4.68 Cr.* Hero Homes Learn More Undo Farm Native Group will invest Rs 150 crore to establish a 250-bed super speciality hospital, which is projected to create up to 1,100 direct and 1,500 indirect jobs. Other agreements include Zedsoftpoint's Rs 150 crore investment in data centres and IT services, and Vishwakarma & Co's Rs 100 crore proposal for a tourism-oriented hotel in Ziro. MoUs were also signed for renewable energy, bamboo processing, herbal & turmeric products, and promotion of spiritual and heritage tourism. Deputy CM Chowna Mein, also the minister-in-charge of planning and investment, witnessed several MoU signings and said the summit marked a transformative phase for Arunachal Pradesh's economic growth.
