India’s infrastructure growth: Initiatives, investments, and reforms.
The India-Saudi Arab-Europe Economic Corridor proposed during the recent G20 summit to improve connectivity and economic cooperation between India, Saudi Arabia and Europe will be a major shot in the arm for the Indian infrastructure sector, says Santhosh Kumar, Vice Chairman, ANAROCK Group.
The Indian government has taken concerted steps in recent years to boost infrastructure development and attract greater investment, both domestic and foreign, into the sector. Adequate infrastructure is crucial for improving productivity and enabling long-term economic growth. Some key steps taken are:National Infrastructure Pipeline: In 2019, the government announced the National Infrastructure Pipeline (NIP) which entails an investment of Rs 111 trillion in infrastructure projects over 5 years. This creates a huge opportunity for private investors across sectors like energy, transport, urban development, and communication. 49 per cent of NIP funding is expected from the central and state governments while 51per cent is to come from the private sector.