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Date: 26/06/2024

India’s infra not lagging behind China, says Morgan Stanley

India’s physical infrastructure is not significantly lagging behind China’s when considering the size of their respective economies despite China having long been recognised for its heavy investments in infrastructure, said Morgan Stanley in a report. Infrastructure in India has improved significantly in the past few years and when comparing infrastructure scale relative to GDP, it favours India over China which is often considered a benchmark for large-scale infrastructure development. Meanwhile, the report projects a steady increase in India’s infrastructure investment, rising from 5.3 per cent of GDP in fiscal year 2024 (FY24) to 6.5 per cent by fiscal year 2029 (FY29), resulting in a robust compound annual growth rate (CAGR) of 15.3 per cent and cumulative spending of $1.45 trillion over the next five years. As for the current fiscal year, India’s GDP is 19 per cent of China’s, said a report.
 
Source: Exim News Service: New York, June 25



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