ST: Modi's Digital India push wins $94 billion in investment pledges
NEW DELHI (BLOOMBERG) India's industrial captains led investment pledges of more than US$70 billion (S$94.2 billion) as part of Prime Minister Narendra Modi's plan to improve Internet access and jump start electronics manufacturing in Asia's third-largest economy.
Mukesh Ambani, India's richest man, promised 2.5 trillion rupees (S$52 billion) on Wednesday at a government event in New Delhi. Sunil Mittal, chairman of Bharti Enterprises, promised to spend 1 trillion rupees over the next five years. And Aditya Birla Group Chairman Kumar Mangalam Birla vowed to spend US$2 billion on Digital India projects.
The pledged spending will bolster the government's plan to commit US$18 billion on its Digital India program to expand Internet access to rural areas and offer government services online.
