Birla will invest $2.4 billion as V-shaped recovery takes hold

Indian tycoon Kumar Mangalam Birla’s $46-billion metals-to-telecommunications conglomerate is reviving investments, betting India’s economy will soon bounce back from a recession induced by the pandemic.

As the vaccines roll out, and governments and central banks provide stimulus, India will be among economies to rise above pre-pandemic levels, the billionaire said in a Bloomberg Television interview on Wednesday. His Aditya Birla Group has already unveiled plans to plow in about $2.4 billion across businesses in the past few weeks, months after putting on hold some of its expansion programs on account of the Covid-related lockdowns.