Another country has announced a major rollout in infrastructure investments as part of an effort to spur economic growth and close the global infrastructure gap, which numbers in the trillions.
India is planning to invest $1.39 trillion in its infrastructure over the next five years and is expected to unveil a slew of infrastructure projects this month as part of the push, according to Reuters. India’s finance minister Nirmala Sitharaman revealed the news at a business summit in Mumbai on Saturday, according to several media sources.
“A set of officers are looking into the pipeline of projects that can be readied so that once the fund is ready, it could be front-loaded on these projects,” said Sitharaman. “That task is nearly completed.”
She added, “Before December 15, we will be able to announce frontloading of at least 10 projects.”
India is not the first country to announce a monumental infrastructure push as of late. Last month,