Indian infrastructure spend to rise 15.3% in the next five years

24 Jun 2024 CW Team

India's infrastructure investment is set to grow at a compound annual growth rate (CAGR) of 15.3% over the next five years, marking a significant surge in expenditure, according to Morgan Stanley. This anticipated expansion is projected to result in a cumulative spending of $1.45 trillion in the country.

Describing infrastructure investment as crucial for economic backbone, Morgan Stanley highlighted India's efforts over the past decade to bolster both investment size and productivity. The firm underscored the potential for further growth, citing recent government policies as a positive step forward.

Morgan Stanley's report, "The New India - Infrastructure," highlighted that the increased infrastructure spending is expected to drive a period of sustained high growth, supported by heightened capital expenditures (capex), improved macroeconomic stability, enhanced productivity, and prolonged economic growth.

The brokerage firm noted the pivotal role of Prime Minister Gati Shakti, also known as the National Master Plan for Multi-modal Connectivity, in accelerating infrastructure project execution while mitigating cost escalations. This initiative is anticipated to unlock productivity gains and elevate overall efficiency across various sectors.

In terms of macroeconomic impact, the surge in infrastructure spending is projected to elevate infrastructure investment from 5.3% of GDP in FY 2023-24 to 6.5% of GDP by FY 2028-29. This growth trajectory is expected to yield positive outcomes for equity markets, benefiting stakeholders such as facilitators, developers, and adopters alike.

(Source: ANI & HT)

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