India’s tycoons playing pivotal role in election: Report

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MUMBAI: India's tycoons are playing a pivotal role in the Asian giant's most expensive election ever, from funding campaigns and tacit endorsements to being hot-button issues themselves. Prime Minister Narendra Modi's re-election bid has received huge...

India's tycoons are playing a pivotal role in the Asian giant's most expensive election ever, from funding campaigns and tacit endorsements to being hot-button issues themselves.

Prime Minister Narendra Modi's re-election bid has received huge financial backing from corporate India, raising fears about the integrity of the world's largest democratic process, experts say. Meanwhile, Congress party opponent Rahul Gandhi is trying to exploit a fighter jet deal involving industrialist Anil Ambani while fugitive tycoons Vijay Mallya and Nirav Modi loom over the vote from London.

Polls are getting costlier and analysts say parties are becoming more reliant on donations from anonymous businessmen, leading to a lack of transparency and conflicts of interest. "There is a trend towards plutocracy," Mr Niranjan Sahoo of the Observer Research Foundation think-tank said.

 

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