| | 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 6.7 percent 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. Emaar India, the local arm of Dubai's Emaar Properties, plans to invest a minimum of $1.85 billion over the next two years in order to accomplish in 21 months what took them 21 years, according to Kalyan Chakrabarti, CEO of Emaar India. Over the next two years, the company plans to release approximately 10 million square feet of real estate, expanding its presence in key markets such as Mumbai, Pune, Bengaluru, and Hyderabad."Over the next 21 months, we would like to repeat what we have done over the last 21 years." So far, we've launched 24,500 units, a mix of apartments, floors, plots, and offices; our goal is to do the same in the next 24 months," Chakrabarti said.In a recent interview with ET, Mohamed Alabbar, founder of Emaar Properties, said that the company intends to increase its focus on India. However, the investment by the company would be much higher and it plans to invest $100 million in one project. The company recently launched 424 units on the Golf Course extension, almost four years after its last launch in 2019."Over 4,000 applications were received." The entire process went smoothly, from the time the expression of interest (EoI) was collected to the time the allotment letter was issued," the executive said.EY is the company's process assurance provider, a first in the industry. The project spans 9.53 acres and has a total development area of 1.2 million square feet. Emaar expects the project to generate approximately 2,000 crore in revenue. INDIA TO SPEND RS.143L CRORE ON INFRASTRUCTURAL PROJECTSEMAAR INDIA INVEST $1.85 BILLION IN TWO YEARS TO ACHIEVE TARGETSIN FOCUSIN FOCUS
< Page 7 | Page 9 >