Delhi; 01 June 2021 (UMMN): An obscure US firm has expressed its interest to invest $500 billion in India, via a full front-page advertisement in two of India’s largest publications — Economic Times and Times of India, making an appeal to Prime Minister Narendra Modi to provide an opportunity to contribute to the ‘New India’ vision.
"Landomus Realty Ventures Inc., USA, would like to invest USD 500 Billion in Equity as first phase of investment into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the Government of India under the India Investment Grid for 'Invest India' initiative," Landomus Group Chairman Pradeep Kumar Satyaprakash said in the advertisement.
According to a report in India Today, chairman also said that the group aims to assist the government in its endeavour to “rebuild India and achieve the USD 5 trillion GDP target. At the end of the advertisement, the firm mentioned: “We have a concrete plan to make India pandemic free and request you to provide us an opportunity to present our plan”.
To put the amount in context, $500 billion is more than the combined net worth of Amazon founder Jeff Bezos, Tesla Chief Elon Musk and Microsoft co-founder Bill Gates. And in the Indian context, the amount (Rs 36 lakh crore) is more than the government's full expenditure budget for FY22, reported India Today,
Some Twitter users were quick to point that the company, which claims to be based in the US, has been registered in Bengaluru. A search of its website domain revealed that it was registered by United Land Bank, located in Karnataka, in 2015.
The company’s one-page website did not reveal much except a few lines on its “Build India” mission and an “Our team” section.
While some called it a joke, others called it a way to grab attention. A Twitter user said, “Landomus Realty ventures inc has 19 people and makes $5 million revenue.
