According to Goldman Sachs Group Inc, India will need USD 1.7 trillion to build roads, utilities, railways and other infrastructure over the next decade to boost growth, more than doubling an earlier estimate.
Mr Tushar Poddar Mumbai based chief economist at Goldman Sachs Group Inc said that “India’s economic growth story is inextricably linked to the success of the infrastructure sector. Getting it right could unleash a virtuous cycle of higher growth.”
Mr Poddar in a report said that “In the decade to 2020, India would need to more than double its electricity capacity, increase its length of paved roads by half and add substantially to railways, irrigation, ports and airports.”
Goldman said that India will require USD 427 billion for building roads, USD 287 billion for utilities, USD 281 for railways, USD 272 billion for irrigation. The new estimate includes more sectors and takes into account increases in costs.
The report said that “India needs to develop a deep and liquid corporate bond market and further liberalize pension and insurance funds to mobilize long term savings.”
(Sourced from http://www.steelguru.com/news/index/2009/09/21/MTEyNzY5/India_needs_USD_1.7_trillion_for_utilities_-_Goldman_Sachs.html)
Sunday, September 20, 2009
India needs USD 1.7 trillion for utilities - Goldman Sachs
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