| | NOVEMBER 20238As per Crisil, India would spend almost Rs 143 lakh crore on infrastructure projects over the next seven fiscal years, more than doubling the Rs 67 lakh crore invested in the previous seven fiscal years beginning in fiscal 2017. Green investments will account for Rs 36.6 lakh crore of the total, representing a fivefold increase over fiscal years 2017-2023."Crisil expects India's gross domestic product to grow at an average of 6.7Percentage through fiscal 2031, making it the fastest-growing large economy," says Amish Mehta, Managing Director, and Chief Executive Officer (CEO). Per capita income is expected to rise from $ 2,500 presently to $ 4,500 by fiscal 2031, transforming the country into a middle-income country."Mehta said that this expansion will be supported by substantial all-around infrastructure development, with a strong emphasis on integrating sustainability."Policy interventions and a favorable investment environment have aided the upward trend in CRISIL InfraInvex scores across sectors." Four of these - roads and highways, power transmission, renewable energy, and ports - have an overall score of 7+ (out of 10), highlighting the speed with which changes and advances have occurred in recent years, added Mehta.Mehta further noted that stakeholders' importance cannot be understated and that we require consistent policies, prompt regulatory interventions, and relentless execution. These are critical to enticing India's infrastructure investment narrative over time and attracting patient investments. The State Government has recreated the Invest Karnataka Forum (IKF) under the chairmanship of prominent industrialist Sajjan Jindal. Large and Medium Industries Minister M B Patil issued an order to reconstitute the IKF to attract more state investments and boost the state's image as an investment destination at the national and international levels.In addition to Sajjan Jindal, the IKF will include Gitanjali Kirlosakar, chairperson of Kirloskar Systems from the Automobile Sector, Aravind Melligeri, chairman of Ekus Inc. from the Aerospace and Defence Sector, Ankit Fatepuria, co-founder of Jetworks Company from the Production Sector, and Kennametal Managing Director Vijayakrishnan Venkateshan from the Machine Tools Sector.In addition, a first-of-its-kind Strategic Investment Committee has been constituted as part of IKF to suggest suitable guidelines with representatives from various sectors with the minister as the chairman.Mrithyunjaya Hiremath, AMD Director, CBRE South Asia Private Ltd Managing Director Ram T Chandnani, Axel Partners Co. The Strategic Investment Committee also includes Prashant Prakash, Zerodha co-founder Nikhil Kamat, Pepper Global Co. senior managing director Ravi Manchand, Merika Group Investment Director Ashwin Krishnaswamy, Capitaland CEO Gowrishankar Nagabhushan, and Industrialist Kasaragodu Ullas Karanth.Both panels will assist the State Government in soliciting investments from the United States, Germany, France, the Netherlands, Japan, South Korea, and Taiwan, as well as assisting the government in implementing ease of doing business policies.Ex-officio members of the panels include Industries Department Principal Secretary Selva Kumar and Commissioner Gunjan Krishna. INDIA TO SPEND RS.143L CRORE ON INFRASTRUCTURAL PROJECTSSAJJAN JINDAL TO CHAIR INVEST KARNATAKA FORUMIN FOCUSIN FOCUS
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