Rush to complete an ambitious infrastructure plan in India

Apr. 03, 2018 6:15 PM ETIIF, INP, FNI, EPI, PIN, INR, INDY, INDL, INXX, SCIN, INDA, SMIN, GLINBy: Omer I., SA News Editor8 Comments
  • India is rushing to complete its ambitious infrastructure plan before the next elections, and is spending a record $18B this year to build highways and improve roads across the nation.
  • With elections a year away, Prime Minister Narendra Modi and his administration are increasing government spending and had promised 10M new jobs a year to accelerate economic growth.
  • Spending on roads is up 44% Y/Y, with the government planning to construct 52,000 miles of roads under a five-year $106B development plan.
  • “The renewed focus on road building will continue to improve connectivity thereby enhancing the overall efficiency in the economy,” said Shubhada M Rao, chief economist at Yes Bank Ltd. “Focus on road building will also help employment generation.”
  • ETFs: EPI, INDA, INDY, SCIF, INDL, PIN, SMIN, INXX, IIF, INP, INR, SCIN, FNI

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