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Date: 02/07/2024

PM Gati Shakti has given impetus to infra development & multimodal connectivity: Morgan Stanley

The PM Gati Shakti scheme has succeeded in giving a new fillip to India’s infrastructure development and multimodal connectivity across highways, railways and ports that has spurred economic growth, according to a report by the global investment bank and financial company Morgan Stanley. India has scaled up its infrastructure strongly over the last decade, with higher investment that is also better targeted and potentially more productive. It expects India’s infrastructure investment to steadily increase from 5.3 per cent of GDP in FY24 to 6.5 per cent of GDP by FY29. This implies that infrastructure investments are expected to register a strong 15.3 per cent CAGR, resulting in cumulative spending of USD 1.45 trillion over the next five years. In its view, this will help lift the investment rate, leading to a sustained period of high productive growth, as per a report.
 
source: Exim News Service: New Delhi, July 1



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