Three Bengaluru-based firms, tied to hedge fund operator George Soros, were allegedly funded by the US Agency for International Development (USAID), which has come under fire from the Trump administration for pushing a "left, liberal, and woke" agenda overseas.
This occurred while the Enforcement Directorate was investigating three Bangalore-based businesses for alleged violations of the Foreign Exchange Management Act.
According to reports, these businesses received Rs 25 crore from the Soros Economic Development Fund, the impact investment division of Open Society Foundations, one of the several organizations that Soros founded.
ED officials discovered during the investigation that ASAR Social Impact Advisor, one of the companies, had got Rs 8 crore in foreign inward remittances from USAID in 2022–2023.
According to reports, ASAR management informed ED that the USAID funding was payment for the services it rendered to the Council on Energy, Environment, and Water (CEEW), a public policy think tank based in Delhi that focuses on "understanding global challenges and implications for India's development," according to its website.
CEEW emphasized that it is not associated with the Open Society Foundations or George Soros.
"ASAR Social Impact Advisors was contracted by CEEW to provide specific services for a USAID project related to cleaner air. This project has already ended. CEEW has no current relationship to ASAR at this stage. CEEW has not received any queries from any government authorities related to ASAR. We have no reason nor have any basis on which to comment on any ongoing investigation concerning a third party," it said.
"CEEW remains dedicated to its mission of conducting independent, rigorous research to support India's sustainable development. We are aligned with development priorities outlined by governments in India at different levels and will continue supporting evidence-based policymaking and implementation in this spirit. We wish to emphasise that all our work is conducted transparently, in full compliance with relevant regulations, and aligns with our core mission to serve the public interest," it added.
The other two Bengaluru-based businesses that have received finance from SEDF are Rootbridge Services Pvt Ltd and Rootbridge Academy Ltd, in addition to ASAR. The cash was given to all three businesses between 2021 and 2024.
Due to their "undesirable activities," the home ministry placed Open Society Foundations in the "prior reference category" in 2016. This classification meant that they had to obtain permission from the ministry beforehand before they could donate money to any Indian non-profit.
Also Read: Starbucks China Maintains its Flames Thanks to These Women Leaders
The ED is also looking into how Soros funded think tanks, civil rights organizations, and other organizations in India under the guise of foreign direct investments.