PM Gati Shakti Scheme is Transforming India’s Infrastructure: Morgan Stanley

• American multi-national investment bank and financial company Morgan Stanley has all praise for PM Gati Shakti scheme. The report highlights increased and more targeted investments, suggesting a continued emphasis on infrastructure spending in India’s future.
• The report says India has scaled up its infrastructure strongly over the last decade, investment is not only increasing but it is better targeted and potentially more productive. The report further adds India’s thrust on infrastructure spending is set to continue. The report said, “We expect India’s infrastructure investment to steadily increase from 5.3 per cent of GDP in F24 to 6.5 per cent of GDP by F29. Indeed, this implies that infrastructure investments are expected to register a strong 15.3 per cent CAGR, resulting in cumulative spending of USD 1.45 trillion over the next five years.
• The report cites World Bank’s Logistics Index Report, 2023, it says the average Container Dwell Time in India was three days compared to four days for countries like the UAE and South Africa, seven days for the USA, and 10 days for Germany. In addition, Indian Ports “turnaround time” has reached 0.9 days, which is better than the USA (1.5 days), Australia (1.7 days), Singapore (1.0 days), etc. 6. In F24, ports overall cargo growth was 7 per cent, with 53 per cent of cargo handled by major ports (government-owned).
• PM Narendra Modi has launched the PM Gati Shakti National master plan for infrastructure development in Oct 2021. Essentially a digital platform to bring 16 ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.

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Published date : 28 Jun 2024 05:28PM