New US Favorites: Indian Money and the Trump White House
Published: October 11, 2026
Geopolitics aside, Trump's message to business is very clear: bring the capital, build here and hire Americans. Whether one agrees with it or not is a separate question. For Indian businesses the question is how they adapt to it.
Trump said as much in the Oval Office: "Everyone's building their plant here because they don't want to pay tariffs."
Six of the eight firms the US suspended from green-card sponsorship are Indian IT companies or run large operations in India. In the same year, three Indian business families made Washington news for the money they are putting into the US.
Sources: full list with links on page 6 of the deck below.
Where the story started: my daily news scan on TREMOR
These stories first reached me through TREMOR News, where Jev Rank, a new feature I built on TypeSafe's Jev model, sorts about 800 headlines a day against my interest areas. I tag the ones I want to follow and come back to them as a thread builds.
The live tool is free to use. Set your own interest areas and track the news: tigzig.com/tremor/news
A few notes on the numbers
The $300 billion in Trump's post is the refiner's figure over 20 years: $125 billion of US shale to be bought and processed, plus $175 billion of fuel to be produced. Reliance has not confirmed the size of its investment. The refiner says a "global supermajor" put in nine figures. The Brownsville Herald, citing the FT, reported an initial outlay of about $40 million.
"Largest steel plant in US history" and "first new US refinery in about 50 years" are how the White House and the companies bill them. Neither is built. First steel is targeted for 2030 and the refinery's first full year for 2029.
On Adani: the US charged him in November 2024 over alleged bribes. In a July court affidavit, Adani says his lawyers suggested in settlement talks that his $10 billion US pledge could be part of a resolution, the Justice Department said it would not consider it, and the pledge had no role in dropping the case. A judge dismissed the criminal case in August and found the pledge did not influence it. Separately, Adani Enterprises paid $275 million to settle a US Treasury case over apparent Iran sanctions violations.
Parts of this work were prepared with AI and steered by me. I reviewed, edited and approved every page.
More on TREMOR News and Jev Rank
- TREMOR News: Jev Rank cuts my daily headline scan to a third: tigzig.com/post/tremor-news-jev-rank-daily-scan-oct2026
Other analysis at: tigzig.com/analysis
New US Favorites: Indian Money and the Trump White House
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Slide 1
TIGZIG
TOOLS·ANALYTICS·DATA SURFACE
From the news·via TREMORJev News Ranking
Indian money and the Trump White House, 2026
New US Favorites
From Washington's news: an Oval Office announcement, a Truth Social thank-you and a dropped case
In 2026 the US tightened green-card rules for foreign workers and welcomed Indian capital.
Ruia · a steel plant billed as the largest in US history
Ambani · a Texas refinery and Venezuelan oil
Adani · a $10 billion pledge, $293m in US settlements and a dropped case
SourcesFull list with links on page 6.
Amar Harolikar · Decision Sciences & Applied AItigzig.com
Slide 2
Two things at once
In 2026 the US made it harder for foreign workers and easier for Indian capital
Foreign workers
8 Oct 2026The Labor Department suspended eight firms from green-card (PERM) filings, citing alleged abuse: Microsoft, Adobe, Cognizant, Infosys, Tata Consultancy Services, Wipro, HCL and Capgemini.
What it coversPERM lets a company sponsor a worker for permanent residency, often one already in the US on an H‑1B. The suspension is indefinite.
Indian capital
28 Sep 2026Trump hosts the Ruia family of Essar in the Oval Office for a $15 billion Iowa steel plant.
10 Mar 2026Trump thanks Reliance on Truth Social for a Texas refinery deal.
May to Aug 2026US criminal case against Gautam Adani dismissed and SEC case settled. The judge found his $10 billion US pledge did not influence the decision.
SourcesBloomberg Law, 9 Oct 2026 · AP, 9 Oct 2026 · Indian capital: pages 3 to 5
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 2 / 7
Slide 3
Ruia · Essar
An Oval Office welcome for a planned steel plant, billed as the largest in US history
"Today, we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa."
... "What a great family, what a good job you did."
Donald Trump, Oval Office, 28 September 2026. The second line to the Ruias, after Rewant Ruia spoke.
The money $18 billion: a $15bn steel plant in Iowa and about $3bn in a Minnesota iron ore mine, billed as the first new one in the US in about 50 years.
The jobs 1,750 permanent jobs and up to 6,000 construction jobs, by the White House's count. First steel targeted for 2030.
The tariffs Trump: "Everyone's building their plant here because they don't want to pay tariffs." Steel imports carry a 50% tariff.
Public support Iowa passed $1.36bn of tax incentives over 10 years in a one-day session, paid only once the plant runs. The US Export-Import Bank approved a $770m loan for the mine.
Also reported Essar's earlier steel venture in Minnesota filed for bankruptcy in 2016.
SourcesOval Office transcript, Roll Call Factba.se · White House · CBS News · Indian Express · The Guardian
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 3 / 7
Slide 4
Ambani · Reliance
A Truth Social thank-you for a Texas refinery, and a licence for Venezuelan oil
"THIS IS A HISTORIC $300 BILLION DOLLAR DEAL ... Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment."
Donald Trump on Truth Social, 10 March 2026
The refinery Billed as the first major new US oil refinery in about 50 years, planned by America First Refining at the Port of Brownsville, Texas.
The $300bn The refiner's figure over 20 years: $125bn of US shale to be processed plus $175bn of fuel to be produced. It names only a "global supermajor" investing nine figures. Reliance has not confirmed the size.
The oil In February, Reuters reported, the US gave Reliance a licence to buy Venezuelan crude directly. In September India took 257,000 barrels a day of it, 76% for Reliance.
Where it stands Design contracts awarded, no construction start reported. First full year targeted for 2029. The air permit lapses if building has not begun by 19 Oct 2027.
Also reported ProPublica reports Donald Trump Jr. holds a stake in America First Refining. His spokesperson calls him a passive minority investor. Reliance says there is no connection between its investment and any licensing outcome.
SourcesTruth Social · America First Refining · Reuters · CNBC (Kpler data) · Brownsville Herald · Matrix Service, Sep 2026 · ProPublica
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 4 / 7
Slide 5
Adani
A $10 billion pledge to America, and a US case that ended
"Congratulations to @realDonaldTrump ... the Adani Group is committed to leveraging its global expertise and invest $10 billion in US energy security and resilient infrastructure projects, aiming to create up to 15,000 jobs."
Gautam Adani on X, 13 November 2024
His account July 2026 affidavit: he posted before the charges were public, and the pledge did not influence the case being dropped. The post is still up.
The case November 2024: US prosecutors charged Adani over about $265m in alleged bribes to Indian officials. He denies wrongdoing.
The pitch His lawyers, including Trump personal attorney Robert Giuffra, floated the pledge as part of a settlement (affidavit). Prosecutors rejected it on 11 May.
The outcome May 2026: SEC case settled for $18m ($6m him, $12m nephew Sagar). Separately, the group paid Treasury $275m over Iranian gas. August: the judge dismissed the criminal case, called how it was dropped "concerning", and found the pledge did not influence it.
The plans FT via Reuters, March 2025: revived plans in nuclear, utilities and an East Coast port. No named US project found as of Oct 2026.
Also reported Democratic Senators Warren and Blumenthal have twice asked the Attorney General how the case was dropped.
SourcesGautam Adani on X · The Star on the affidavit · Reuters, 15 May 2026 · Al Jazeera · Reuters via Mining.com · Reuters on the FT report · The Guardian
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 5 / 7
Slide 6
Sources
Primary
Donald Trump, Truth Social post on the Brownsville refinery, 10 Mar 2026
Oval Office remarks on the Iowa steel plant, transcript (Roll Call Factba.se), 28 Sep 2026
White House release on the Iowa steel plant, 30 Sep 2026
Gautam Adani, X post on the $10 billion US pledge, 13 Nov 2024
America First Refining, offtake agreement and capital investment, 10 Mar 2026
Reporting
Bloomberg Law and AP on the PERM suspensions, 9 Oct 2026
Reuters, Reliance wins US licence for Venezuelan oil, 13 Feb 2026; CNBC on Reliance and Venezuelan oil, 8 Oct 2026
The Brownsville Herald, 7 May 2026; Matrix Service tank-farm design contract, 2 Sep 2026; ProPublica, 9 Jun 2026
CBS News, Indian Express and The Guardian on doubts over the Iowa plant on the Iowa plant, Sep to Oct 2026
Reuters, 15 May 2026, on the Adani case deal, 15 May 2026; Al Jazeera, 18 May 2026; Reuters via Mining.com, Aug 2026
Reuters on the FT report of Adani US plans, Mar 2025; The Star on the Adani affidavit, 16 Jul 2026; The Guardian on the senators' letter, 24 Sep 2026
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 6 / 7
Slide 7
How I track the news
Where this story started: my daily news scan on TREMOR
TREMOR News is where I start my day. It pulls about 800 headlines from more than 60 sources, from Reuters and CNBC to the Fed, the IMF and Indian business papers.
Jev Rank, built on TypeSafe's Jev model, scores every headline from 0 to 100 against my interest areas and puts the ones I want at the top. My daily scan now takes a quarter to a third of the time it used to.
I tag the stories I want to follow into my own offline AI setup, review them from time to time and look further where a thread keeps building. The Ruia, Reliance and Adani stories were first tagged there.
Parts of this work were prepared with AI and steered by me. I reviewed, edited and approved every page.
Set your own interest areas, or type a topic in the focus box for a quick ranking.
Amar Harolikar · Decision Sciences & Applied AItigzig.com · 7 / 7
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