Unions affiliated to the Life Insurance Corporation (LIC) of India strongly refuted the report by The Washington Post, calling it misleading and intended to advance the interests of American insurance corporations.
LIC Employees Union (Kadada division) general secretary A. Raghunatha Reddy said the report seeks to undermine the credibility of LIC and create a pretext for US corporations to enter the Indian life insurance sector.
“LIC is a long-term investor in the stock market and its decision to invest in the Adani Group was a conscious one taken by the LIC board – not under any external pressure as suggested in the story. LIC management has already clarified this point,” Mr Reddy said in a statement, calling the article “malafide intent.”
He further recalled that the US Trade Representative (USTR) had made similar baseless allegations about LIC’s sovereign guarantee in an earlier report, adding that such shenanigans by US entities were nothing new.
Published – 26 Oct 2025 20:19 IST
