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Indian Infrastructure to Provide USD 375 Bln Opportunities for Investors

Sputnik International

Indian banking system is burdened with USD 120 billion stressed assets. Due to unavailability of money at cheaper rate, India looks towards foreign investors... 11.11.2016, Sputnik International

2016-11-11T12:26+0000

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Indian Infrastructure to Provide USD 375 Bln Opportunities for Investors

12:26 GMT 11.11.2016

Indian people speak on their mobiles outside the Reserve Bank of India (RBI) headquarters in Mumbai. (File) - Sputnik International

Indian banking system is burdened with USD 120 billion stressed assets. Due to unavailability of money at cheaper rate, India looks towards foreign investors for funding its infrastructure sectors.

Indian Prime Minister Narendra Modi, rear right, talks with Russian President Vladimir Putin as officials of two countries exchange agreements after bilateral meeting in the beach resort state of Goa in western India, Saturday, Oct. 15, 2016 - Sputnik International

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Russia, India Sign Deal to Create $1Bln Fund to Invest in India Projects

15 October 2016, 09:48 GMT

New Delhi (Sputnik) – In what could be major opportunities for foreign investors, India has announced a major investment plan for the next three years. Indian Road Transport and Shipping Ministry has set target of USD 375 billion investment in road transport and shipping sector by 2019 that could help to generate 50 million employment opportunities in jobless economy.

“There will be investment worth USD 375 billion in highways and shipping sector in five years,” says India’s Road Transport and Shipping Minister Nitin Gadkari.

India also plans to sell approximately USD750 million of offshore Indian currency bonds in Singapore and London. The fund received from the sale of the bond will be used in construction of roads and shipping sector.

Nitin Gadkari stressed that due to rising bad debt of Indian banks, government is unable to borrow funds at cheaper rate in India.

India is seeking investment fund from countries like Japan, China and Russia. In recent Indo-Russia annual meeting, both the countries have set up Russia-India Investment Fund together with National Investment and Infrastructure Fund of India.