Global firms trusting India’s growth story to double down on investments: PHDCCI
India is seen as a resilient economy that will keep growing rapidly into the future
Economist Dr. S.P. Sharma
“Infrastructure is the backbone of our journey towards 2047, necessitating development in roads, sports facilities, airports, and railway tracks,” opines eminent economist Dr. S.P. Sharma.
Global companies, including from Singapore, which are keen to double down on their investments are now further relying on India and trusting its robust growth story, the PHD Chamber of Commerce and Industry (PHDCCI) said.
Dr. S.P. Sharma, chief economist and Deputy Secretary-General of PHDCCI, said that India is a very resilient economy that will continue to grow rapidly in the future. He reacted after global real asset manager CapitaLand Investment Limited (CLI) announced to more than double its funds under management (FUM) in its core market India to $14.8 billion Singapore dollars (Rs 90,280 crore) by 2028 -- up from the current 7.4 billion Singapore dollars – as Prime Minister Narendra Modi began his two-day official visit to Singapore.
“Our goal is to make India a developed nation by 2047, which requires substantial infrastructure development. Infrastructure is the backbone of our journey towards 2047, necessitating development in roads, sports facilities, airports, and railway tracks,” Dr. Sharma said. Investment always seeks promising growth opportunities, and India is one of those opportunities.
“The world is confident in India’s growth potential, and as our plans and welfare schemes continue, our progress will remain intact. Companies will continue to invest in India and will benefit greatly from it. We have confirmed that we can advance at a very fast pace,” Dr. Sharma noted.
Going further, he said, “Our resilience is very strong, particularly the post-pandemic growth, which has been above eight per cent. Previously, our growth was around 7.5 to eight per cent annually but this year, with the latest figures from the World Bank, we are expected to grow around 7.5 per cent again.”
All global companies, especially progressive organisations, are closely watching India with great interest and focus, recognising that investing in this rapidly growing economy can yield significant benefits, the industry chamber noted.
