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Home arrow News arrow Business News arrow India's NMP and infra requirements open up US $ 1 Trillion plus investments
India's NMP and infra requirements open up US $ 1 Trillion plus investments Print E-mail
Written by Anand   
Thursday, 30 June 2011
New Delhi: India's infrastructure financing requirements in the next five years and the new manufacturing policy that is in the final stages of preparation will open up opportunities for Global investors to the extent of more than US $ 1 Trillion said Mr R Gopalan, Secretary, Economic Affairs, Ministry of Finance, Government of India, while delivering his keynote address at the panel discussion on Innovative Approaches to Financing our Infrastructure Needs at the Conference on the US-India Economic and Financial Partnership organized by the Confederation of Indian Industry (CII) and Brookings Institution in Washington, DC.

The National Manufacturing Policy proposes to create national investment and manufacturing zones which would be mega investment regions, equipped with world class infrastructure with number of investment benefits. Alluding to the issues such as land acquisition, environmental clearances and other clearances, Mr Gopalan assured that there was a sustained and continuous policy churn which was happening in these areas with a view to resolve the remaining impediments to investments.

At the CII-Brookings Conference on US-India Economic & Financial Partnership the Union Finance Minister Shri Pranab Mukherjee said that we intend to double the exports from India in the next three years with a focused approach to reach a level of US$ 500 Billion. He said that we are in the process of finalising a National Manufacturing Policy with the objective of increasing the share of manufacturing in our GDP from the current level of 16 per cent to a level of 25 per cent of GDP in the next decade.

Pranab Mukherjee said that the fast growth of the economy in recent years has placed increasing stress on physical infrastructure, such as electricity, railways, roads, ports, airports, irrigation, urban and rural water supply and sanitation, all of which suffer from a substantial capacity deficit. The Finance Minister said that our Twelfth Five Year Plan period (2012-2017) is an ambitious one for infrastructure development, with the projected spending likely to be doubled to around US$ 1 trillion. He said that in order to sustain the high growth in infrastructure spending, it is essential to source more funds from the private sector.

Delivering his keynote address at panel discussion on Increasing Access to Capital to Stimulate Sustainable Economic Growth: The Road to Deepening India’s Capital Markets, Mr U K Sinha, Chairman, Securities and Exchange Board of India said that, efforts were being taken to deepen the access of Capital market for financing growth.

Despite its tremendous growth of Indian Capital Market, deepening the access to products and capital markets to the rural areas which has demonstrated economic resilience and has been a challenge and the SEBI’s approach was to provide more and more products in addition to simplification and convenience to the investors going forward, he added.

 
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