Indian enforcement agencies recently conducted multiple raids in Bengaluru targeting George Soros’ Open Society Foundations (OSF) and its investment arm, the Soros Economic Development Fund (SEDF). The probe focuses on alleged violations of India’s foreign exchange laws related to funds transferred to various NGOs and individuals across the country.
The Enforcement Directorate (ED), which investigates financial crimes, searched eight locations as part of a wider inquiry into the flow of foreign direct investment (FDI) through OSF subsidiaries in India. Officials suspect that funds, estimated at nearly $3 billion, may have been routed indirectly to bypass regulatory restrictions imposed under the Foreign Exchange Management Act (FEMA).
One key allegation involves OSF’s efforts to circumvent a 2016 Indian government restriction, which required prior government approval for donations to NGOs. Sources say OSF allegedly funneled money via subsidiaries under the guise of FDI and consultancy fees to continue funding local organizations—some of which focus on human rights, governance, and social justice.
The investigation raises broader questions about the influence of foreign-funded groups in India’s civil society, with critics accusing such entities of political interference and undermining national sovereignty. No formal charges have been filed yet, but the probe remains active.
Founded by billionaire philanthropist George Soros, OSF has operated in India since the late 1990s, supporting causes like legal reforms and poverty alleviation. However, Soros faces growing backlash from right-wing factions accusing him of pushing a foreign agenda through his funding.
Meanwhile, in the U.S., Soros is also under scrutiny for a recent rapid approval of his media acquisitions, which some Republicans argue could influence the upcoming presidential election.
As legal and political challenges mount, Soros’s global philanthropic operations face intensified examination from authorities around the world, highlighting the complex balance between foreign funding and national interests.
