Washington: India’s infrastructure financing requirements and the new manufacturing policy being finalised will open up $1 trillion opportunities for global investors over the next five years.
This was stated by Economic Affairs secretary R Gopalan at a panel discussion here on ‘Innovative Approaches to Financing our Infrastructure Needs´, organised by CII and Brookings Institution.
Gopalan and other senior officials are accompanying finance minister Pranab Mukherjee, who is holding bilateral meetings with the US government and participating in high level conferences.
Alluding to the issues such as land acquisition, environmental clearances and such approvals, Gopalan assured investors that there was a sustained and continuous policy churn in these areas with a view to resolving the remaining impediments to investments.
India plans to invest $1 trillion on infrastructure, which is critical for sustaining high economic growth.
The Government is in the final stages of formulating a manufacturing policy to increase the share of manufacturing to 25% of the GDP, up from the current level of about 16-17%.
Besides simplifying the process of doing business in India, the Government is also contemplating tax sops for investors in the proposed policy.