Top Indian industry leaders Friday pledged billions of dollars in infrastructure and business development in the country’s most populous state even as billionaire Gautam Adani was conspicuous by his absence at the event that he’s attended in the past.Speaking at the Uttar Pradesh investors summit, Mukesh Ambani, chairman of Reliance Industries Ltd. pledged 750 billion rupees ($9.1 billion) of investment in Uttar Pradesh state over the next four years, while Kumar Mangalam Birla, who leads the Aditya Birla Group, promised 250 billion rupees. The Tata Group is developing an integrated multi-modal air cargo complex at the upcoming Jewar airport.
Adani, who’s battling allegations of fraud and market manipulation from a US short seller, was absent from the opening day of the three-day forum in state capital Lucknow. The Adani Group has denied the allegations. Last year, he pledged investments of over 700 billion rupees at a similar event in the state. The three-day event was inaugurated by Prime Minister Narendra Modi in the presence of Uttar Pradesh chief minister Yogi Adityanath and prominent industrialists, including Mukesh Ambani and Kumar Mangalam Birla.