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India's infrastructure investment to double by 2030
The Business Guardian
|October 19, 2023
India is set to make significant investments in infrastructure, with the total expenditure projected to reach Rs 143 trillion between the financial years 2024 and 2030, according to analytics firm CRISIL.
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This figure is more than double the Rs 67 trillion spent over the previous seven financial years. These insights were shared during CRISIL’s India Infrastructure Conclave 2023, held in New Delhi.
Amish Mehta, Managing Director and CEO of CRISIL, highlighted that India is expected to be the fastest-growing major economy with an average gross domestic product (GDP) growth rate of 6.7 percent through fiscal year 2031. He noted that this growth is anticipated to raise per capita income from $2,500 to $4,500 by 2031, effectively transforming India into a middle-income country. This growth will be underpinned by extensive infrastructure development, with a strong emphasis on sustainability.
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