• MyLove @M
• 11 Feb, 2025

In a ground breaking decision former US President Donald Trump has officially revoked the Foreign Corrupt Practices Act (FCPA) a law that previously restricted American businesses from engaging in bribery for securing contracts overseas. This decision is expected to bring massive relief to multinational corporations including Indian industrialist Gautam Adani who faced legal challenges under this act.

Bribery No Longer a Crime in the US.?

The FCPA was a long-standing regulation that prohibited American businesses from offering bribes to foreign officials in exchange for contracts. Violations of this law led to hefty fines and legal actions. However Trump argued that these restrictions put US businesses at a disadvantage in global markets.

With this decision the US Justice Department has been directed to halt all prosecutions related to bribery until a new framework is introduced. Trump emphasised that the move was essential to promote fair competition for American companies worldwide.

A Big Win for Adani.?

Gautam Adani and his company were previously under investigation for allegedly bribing Indian government officials with over Rs 2,000 crore to secure power project contracts. The case filed under the FCPA led to arrest warrants against key Adani executives. With Trump's decision these legal troubles might now be reconsidered.

Adani Group has consistently denied any wrongdoing claiming that such allegations are attempts to tarnish India's reputation. However the case impacted investor confidence and caused significant losses in stock value. Now with the FCPA scrapped legal proceedings may no longer be a threat to the company.

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Why Did Trump Scrap the FCPA.?

Trump has long criticised the FCPA calling it an obstacle for American businesses. He stated that foreign companies freely engage in such practices, while US firms remain restricted. By revoking the law Trump believes that American businesses will have equal opportunities in the global marketplace.

Experts believe the timing of this decision is crucial as it comes just before Indian Prime Minister Narendra Modi’s visit to the US Many speculate that this move could be linked to strengthening economic ties between India and America.