According to the report, India has made substantial advancements in infrastructure over the last decade, with investments not only increasing but also being better targeted and potentially more productive. The report emphasizes that India's focus on infrastructure spending is expected to persist.
Morgan Stanley projects that India's infrastructure investment will rise steadily from 5.3 percent of GDP in fiscal year 2024 (FY24) to 6.5 percent of GDP by fiscal year 2029 (FY29). This growth is anticipated to reflect a strong compound annual growth rate (CAGR) of 15.3 percent, resulting in cumulative spending of USD 1.45 trillion over the next five years. The report suggests that this investment surge will enhance the overall investment rate, leading to a prolonged period of high productive growth.
This story is from the June 28, 2024 edition of The Business Guardian.
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This story is from the June 28, 2024 edition of The Business Guardian.
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