Indian opposition parties demanded a probe on Thursday into allegations of wrongdoing by the Adani Group and said they would raise the issue in parliament.

As Indian billionaire Gautam Adani faces U.S. indictment, the implications for his longtime support Prime Minister Narendra Modi's administration are significant — all the while raising concerns about India's sovereignty and the costs of protecting influential business allies.

One of the world's richest people, Indian billionaire Gautam Adani has been indicted on multiple counts of fraud in the US. The criminal charges are related to his alleged role in a scheme to bribe officials in India.