Infrastructure Sector to get Huge Investment From PM Modi’s Five-Nation Tour

India is expected to get huge investment in infrastructure sector from five-nation tour of Prime Minister Mr. Narendra Modi which he has begun on 4 June, signed an MoU with Qatar Investment Authority, investment of a USD 20 million for renewable energy sector from US and a further commitment of USD 45 billion by USIBC in India, were among the major achievement of his visit in terms of investment.

Prime Minister has visited Afghanistan, Qatar, Switzerland, United States and Mexico during his five day tour across three continents.

MoU between QIA and NIIF

With a view to attracting investments from Qatar under the umbrella of NIIF, the National Investment and Infrastructure Fund (NIIF) Ltd. entered into a Memorandum of Understanding (MoU) with Qatar Investment Authority (QIA) on 5th June, 2016 during the visit of the Prime Minister of India to Doha.

The objective of the MoU is to facilitate QIA to study investment opportunities in the infrastructure sector in India and develop a framework for exchange of information with regard to such investment opportunities, in order to enable both sides to decide on joint investments.

Government of India had set up the Rs 40,000 crore National Investment and Infrastructure Fund (NIIF) Ltd in December last year, to maximize economic impact mainly through infrastructure development in commercially viable projects, both Greenfield and brownfield, including stalled projects.

Investment in renewable energy sector

The United States supports the Government of India’s ambitious national goals to install 175 GW of renewable power which includes 100 GW of solar power.

United States and India will jointly launch the third Initiative of the International Solar Alliance (ISA) which will focus on off-grid solar for energy access at the Founding Conference of ISA in September, 2016 in India.

During the visit of PM, United States and India announced, the creation of a USD 20 million U.S. - India Clean Energy Finance (USICEF) initiative, equally supported by both countries, which is expected to mobilize up to USD 400 million to provide clean and renewable electricity to up to 1 million households by 2020.

Investment commitment from USIBC

Chairman of US-India Business Council (USIBC) Mr. John Chambers have committed to Indian PM, that USIBC members will invest another USD 45 billion in India, Council had committed USD 41 billion investment over a 2-3 year period in India during PM September 2014 visit to United States, out of that, members have already invested USD 28 billion in the country.

Chambers said, in next 2-3 years we will see this pace accelerating further.

Such investment in the country brings smile on the face of construction equipment manufacturers and will raise the further demand of CE products in all segments.

Source: Information has been obtained from government press note, Indo-Asian News Service, Ministry of Finance

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