Key Points
New Delhi: Indias infrastructure sector is set to become the biggest driver for the country that aspires to become a $5 trillion economy soon and a developed nation by 2047..
The newly adopted Vision 2047 document also lays emphasis entirely on infrastructure growth scaling up the pace of development of railways, roads, and ports surpassing most developed countries..
The government has taken the lead in strengthening the countrys infrastructure by proposing a record high 10 trillion capital spending in 2023-24 Union budget. And this spending is expected to continue for a few more years till the investment cycle is established where private and public spends complement to strengthen infrastructure. ..
Overall, a decent progress so far, and more importantly an opportune time for the industry to take stock and transform itself before the next wave of projects hits the market," said Manish R Sharma, Partner and Leader, Capital Projects & Infrastructure, PwC India..
Instruments like InvIT, ToT or asset backed securitisation are already there, and I strongly believe if we can create a strong funding narrative, private capital will find its way into financing," said Sharma adding that there is also a need internationalise Indian infrastructure firms so that have access to more sophisticated practices, that private capital finds more comfort in..
