Now, the 62-year-old Indian billionaire and a close ally of Prime Minister Narendra Modi, whose sprawling $169bn empire spans ports and renewable energy, faces US fraud charges that could potentially jeopardise his ambitions at home and abroad.

A US indictment threatens Indian tycoon Gautam Adani’s efforts to redefine himself as a clean-power champion and secure overseas financing for projects vital to the nation’s energy transition.