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The Confederation of Indian Industry recently said that India's infrastructure sector will need about 50 trillion rupees (about $778 billion) of investment by 2022 as a major growth driver
for the country's sustainable development.
Speaking at an annual meeting on the theme "Impact of Infrastructure Development and Workplace Change on Technology", the Confederation of Indian Industry (CII) said that "the infrastructure sector, which includes core sectors such as power, roads, highways and renewable energy, will need to invest Rs 50 trillion over the next 4 years to achieve sustainable development
in the country.
" ”
Muthukumar, head of Karnataka branch of the Confederation of Indian Industry, said, "Infrastructure development affects the development of
the entire economy.
The private sector is becoming a key player
in various fields.
”
Kamal Bali, Managing Director of Volvo India, noted that the infrastructure sector is critical to driving growth as good infrastructure and logistics are prerequisites for a healthy economy and India still has a long way to go
.
"Logistics costs in India account for 14 percent of GDP, compared to 8 percent in the rest of the world, causing $150 billion a year in drainage
," Kamal Bali said.
62% of the country's logistics transportation is concentrated in land transportation, putting a lot of pressure on ground infrastructure, with each truck covering only 75,000 kilometers per year, compared to 450,000 kilometers
in China.
While urbanization is a hallmark of economic development, Satish Kamat, president of Sri Lankan Cities, said providing the right infrastructure is crucial because the sector's mistakes cannot be easily corrected
.
"Infrastructure affects a country's social and economic structure, and when intertwined with technology, it becomes a power multiplier
.
"
The Confederation of Indian Industry recently said that India's infrastructure sector will need about 50 trillion rupees (about $778 billion) of investment by 2022 as a major growth driver
for the country's sustainable development.
Speaking at an annual meeting on the theme "Impact of Infrastructure Development and Workplace Change on Technology", the Confederation of Indian Industry (CII) said that "the infrastructure sector, which includes core sectors such as power, roads, highways and renewable energy, will need to invest Rs 50 trillion over the next 4 years to achieve sustainable development
in the country.
" ”
Muthukumar, head of Karnataka branch of the Confederation of Indian Industry, said, "Infrastructure development affects the development of
the entire economy.
The private sector is becoming a key player
in various fields.
”
Kamal Bali, Managing Director of Volvo India, noted that the infrastructure sector is critical to driving growth as good infrastructure and logistics are prerequisites for a healthy economy and India still has a long way to go
.
"Logistics costs in India account for 14 percent of GDP, compared to 8 percent in the rest of the world, causing $150 billion a year in drainage
," Kamal Bali said.
62% of the country's logistics transportation is concentrated in land transportation, putting a lot of pressure on ground infrastructure, with each truck covering only 75,000 kilometers per year, compared to 450,000 kilometers
in China.
While urbanization is a hallmark of economic development, Satish Kamat, president of Sri Lankan Cities, said providing the right infrastructure is crucial because the sector's mistakes cannot be easily corrected
.
"Infrastructure affects a country's social and economic structure, and when intertwined with technology, it becomes a power multiplier
.
"
