NARENDRA MODI (FILE)
WASHINGTON: In a series of major international moves, the United States, the United Kingdom, Canada, and Norway have collectively imposed sanctions and blacklisted several Indian firms, exposing a troubling pattern of corporate misconduct, espionage, and violations of international trade regulations.
On February 24, 2025, the US government sanctioned 22 entities and 13 vessels, including four Indian-based companies—BSM Marine LLP, Cosmos Lines Incorporation, Austinship Management Private Limited, and Flux Maritime LLP. These firms were found to be facilitating Iran’s petroleum and petrochemical industry, directly contravening US sanctions. This action follows a previous round of sanctions imposed by the Trump administration, targeting Iranian military links.
In addition, the UK has also blacklisted Inussia Private Limited, an Indian company involved in dealings with Russia, further revealing India’s inability to regulate its corporate sector in line with international standards.
Norway’s Norges Bank took a significant step by expelling Adani Ports from its $1.5 trillion wealth fund due to human rights violations, adding to a growing list of ethical concerns about Indian business practices. The blacklisting of Adani Ports follows revelations that the company violated Western sanctions in its dealings with Myanmar’s port terminals, underscoring a broader failure to adhere to global trade regulations.
On the espionage front, India’s national security practices have also come under scrutiny. In August 2023, Canadian authorities arrested Rahul Gaggal, a businessman based in Canada, for leaking sensitive defense documents. Gaggal was accused of sharing classified information with a journalist who had previously been arrested for similar offenses.
More recently, in February 2025, Canada accused Ankit Srivastava, vice-chair of Srivastava Group, of running a disinformation campaign aimed at influencing Canadian politics through fake media outlets. These revelations suggest that Indian intelligence agencies may have been involved in orchestrating such activities, raising serious questions about India’s ability to safeguard its national security.
The broader implications of these actions are significant, with India’s international reputation taking a major hit. As its companies face mounting sanctions for their involvement in illegal petroleum trade with Iran, dealings with Russia, and violations of human rights, India’s corporate sector is increasingly seen as unregulated and irresponsible.
The actions of the ruling Bharatiya Janata Party (BJP), which has been accused of enabling crony capitalism, are believed to have contributed to the rise of corporate figures like Gautam Adani, whose companies benefit from government-backed malpractice and regulatory negligence.
These developments signal a turning point for India as it faces mounting diplomatic tensions and global scrutiny. Western nations, including the US, UK, and Norway, are tightening their grip on India’s corporate sector, demanding greater accountability and adherence to international norms.
With the credibility of its businesses and political leadership at stake, India must confront these issues if it hopes to restore its global standing and reputation.
