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India will need $4.5 trillion for infra by 2040: Report

According to a report published by Global Infrastructure Hub, India will need $4.5 trillion to develop infrastructure and meet Sustainable Development Goals(SDGs) by 2040. The report accommodates the country’s need to improve economic growth and sustain rapid development. The report’s estimates make India the second largest infrastructure market in Asia after China.

“Rising income levels and economic prosperity is likely to drive significant demand for infrastructure investment in India over the next 25 years,” the report said.

India will also need an additional $888 billion by 2030 in order to provide universal household access to electricity and water. “In absolute terms, the total investment needed to meet the SDGs is greatest in India – a total of USD 1.3 trillion of investment is needed by 2030, more than China, which is USD 257 billion,” the report said.

The firm, which conducted an intensive study of 50 countries and seven industry sectors, found out that by 2040, the global population will grow by almost two billion people – a 25 pet cent increase. Rural to urban migration continues with the urban population growing by 46 per cent, triggering massive demand for infrastructure support, it said.