Infra development is key for making India a $5 tn economy
ECONOMY & POLICY

Infra development is key for making India a $5 tn economy

India's Prime Minister is fervently pursuing the vision of elevating the country to a $5 trillion economy, with a primary focus on robust infrastructure development. In his view, the cornerstone of this ambitious endeavor lies in addressing critical aspects such as water supply, power generation, transportation networks, and communication systems.

The Prime Minister underscores the indispensable connection between infrastructure development and catalyzing industrial growth and capital investments. A well-established infrastructure framework, he believes, is the catalyst for attracting industry and capital, both of which are prerequisites for generating employment opportunities. The ultimate goal, he emphasizes, is to eradicate poverty, a mission intricately linked to employment creation.

One significant initiative aligned with this vision is India's participation in the G20 Alliance for Biofuel. This alliance represents a substantial stride towards energy sustainability and self-reliance. India is already harnessing advanced technology to produce ethanol from a diverse range of sources, including sugarcane juice, molasses, various types of molasses (B-molasses, C-molasses), corn, food grains, rice, wheat, and even bamboo. Notably, a new ethanol production facility has been established in Panipat, specializing in the conversion of rice straw into ethanol.

Moreover, Indian Oil, a leading energy corporation, is poised to expand its biofuel efforts by producing not only ethanol but also bio-bitumen and bio-aviation fuel. The Prime Minister expresses optimism about future technological advancements, including the potential to convert carbon dioxide into ethanol, which could be a transformative development for the nation.

India's commitment to infrastructure development and sustainable energy solutions reflects its dedication to achieving economic growth and prosperity, aligning with the Prime Minister's overarching vision for the nation's future.

India's Prime Minister is fervently pursuing the vision of elevating the country to a $5 trillion economy, with a primary focus on robust infrastructure development. In his view, the cornerstone of this ambitious endeavor lies in addressing critical aspects such as water supply, power generation, transportation networks, and communication systems. The Prime Minister underscores the indispensable connection between infrastructure development and catalyzing industrial growth and capital investments. A well-established infrastructure framework, he believes, is the catalyst for attracting industry and capital, both of which are prerequisites for generating employment opportunities. The ultimate goal, he emphasizes, is to eradicate poverty, a mission intricately linked to employment creation. One significant initiative aligned with this vision is India's participation in the G20 Alliance for Biofuel. This alliance represents a substantial stride towards energy sustainability and self-reliance. India is already harnessing advanced technology to produce ethanol from a diverse range of sources, including sugarcane juice, molasses, various types of molasses (B-molasses, C-molasses), corn, food grains, rice, wheat, and even bamboo. Notably, a new ethanol production facility has been established in Panipat, specializing in the conversion of rice straw into ethanol. Moreover, Indian Oil, a leading energy corporation, is poised to expand its biofuel efforts by producing not only ethanol but also bio-bitumen and bio-aviation fuel. The Prime Minister expresses optimism about future technological advancements, including the potential to convert carbon dioxide into ethanol, which could be a transformative development for the nation. India's commitment to infrastructure development and sustainable energy solutions reflects its dedication to achieving economic growth and prosperity, aligning with the Prime Minister's overarching vision for the nation's future.

Next Story
Infrastructure Urban

L&T subsidiary opens new manufacturing unit in Saudi Arabia

L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.

The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..

Next Story
Infrastructure Urban

LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn

LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.

Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..

Next Story
Infrastructure Urban

IEX reports 13.7% spike in annual volume; 110.1 billion units in FY24

The Indian Energy Exchange (IEX) disclosed a notable 13.7% uptick in total volumes, reaching 110.1 billion units (BU) for the fiscal year ending March 31, 2024. The company unveiled its audited standalone financial outcomes on May 15, 2024, spotlighting a robust revenue surge of 16.2% to Rs5.508 billion. Profit After Tax (PAT) for the year marked a commendable ascent of 16.7 %, reaching Rs3.414 billion, while consolidated PAT escalated by 14.7 % to Rs3.508 billion. In the fourth quarter alone, IEX observed a notable 15.5 % surge in total volumes, recording 30.1 BU. Quarterly revenue soared to ..

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram