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Digital India: Business leaders pledge $70bn | Digital India: Business leaders pledge $70bn |
(about 1 hour later) | |
Indian companies have pledged 4,500 trillion rupees ($70bn; £44bn) to the "digital India" initiative. | |
Among key investors were the Ambani brothers, Tata group chief Cyrus Mistry and Wipro head Azim Premji. | Among key investors were the Ambani brothers, Tata group chief Cyrus Mistry and Wipro head Azim Premji. |
Companies also pledged to manufacture in India, estimated to add 1.8 million jobs to the economy. | |
Prime Minister Narendra Modi launched "India Digital Week" on Wednesday, to reinvigorate an $18bn campaign to strengthen digital infrastructure. | Prime Minister Narendra Modi launched "India Digital Week" on Wednesday, to reinvigorate an $18bn campaign to strengthen digital infrastructure. |
"Why can't we make quality electronic goods that are globally competitive?" Mr Modi said, highlighting his goal of ending net technology and electronics imports by 2020. | "Why can't we make quality electronic goods that are globally competitive?" Mr Modi said, highlighting his goal of ending net technology and electronics imports by 2020. |
India's richest man Mukesh Ambani pledged the biggest investment, saying he planned to invest 2.5tn rupees ($39bn) through his Reliance Industries. | India's richest man Mukesh Ambani pledged the biggest investment, saying he planned to invest 2.5tn rupees ($39bn) through his Reliance Industries. |
Kumar Mangalam Birla, chairman of the conglomerate Aditya Birla Group, announced $7bn to fund network rollouts and other projects, the AFP news agency reported. | Kumar Mangalam Birla, chairman of the conglomerate Aditya Birla Group, announced $7bn to fund network rollouts and other projects, the AFP news agency reported. |
The venture is aimed at bridging India's digital divide, bringing in large investments in technology manufacturing. | The venture is aimed at bridging India's digital divide, bringing in large investments in technology manufacturing. |
However, India will have to overcome a number of challenges before it can achieve its ambitions. | However, India will have to overcome a number of challenges before it can achieve its ambitions. |
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