Key Points
The resurgence in private investments in India is "very visible" now, Bhargav Dasgupta, vice-president (Market Solutions) at the Asian Development Bank (ADB) said on Tuesday, adding that the multilateral lender, too, is looking at ramping up its private sector initiatives in the country, especially in areas like climate change...
The Indian government had to do some "heavy lifting" in bolstering investments to prop up economic growth earlier when India Inc took a pause after creating excess capacity, Dasgupta indicated..
A key part of Dasgupta's role at ADB involves deep engagement with private players. Gross fixed capital formation in FY24 will account for 34.1% of India's gross domestic product, the highest in over a decade, the National Statistics Office said in its second advance estimate last month...
ADB mobilised $1.2 billion for private projects in India in 2023, of which its own contribution was about $775 million and private parties made up the rest, he said..
ADB has started undertaking reforms in sync with the G-20 agreement (under India's presidency) to make multilateral development banks "bigger, better and bolder" to meet new-age challenges, Dasgupta said..
