Private investment in Indian infrastructure has risen almost 12-fold as a share of GDP over the past seven years, raising the prospect that the country is making headway in upgrading its power-generation capacity, roads, ports and railways.
Private promoters’ share of investment has risen from 0.3% to about 4% of GDP since 2003, accounting for nearly half of India’s total average annual infrastructure spend since that time. Overall infrastructure investment in India over the same period has doubled from 4% to 8% of GDP.
“The reality is that India has come much further than people realize in a much shorter period of time,” says Rajiv Lall, chief executive of state-run lender Infrastructure Development Finance Company, referring to the country’s investments in infrastructure.
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“There’s an ugly underbelly to this investment momentum. |
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