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IDFC: Growth Foundations

| 2/7/2013 9:02 PM Thursday

With the country revving up on the expressway to development, the country’s leading infrastructure finance company, IDFC, looks set for a steady ride upward. Vidrum Mehta tells you more about the company and the investment prospects it holds.

Good roads, smart ports, continuous availability of power, rapid industrialisation and a booming economy – this would surely be the most ideal situation that countries throughout the world would love to be in. But the one very important factor that drives all this to reality is the funding required.

Infrastructure funding has always been a key issue with governments globally. This sometimes becomes a tricky situation, with governments facing a lot of pressure on account of the high financing needs of such projects. In this respect, the story of India isn’t very different. Though we have achieved a lot, there is a huge gap between our goals and our accomplishments.

Infrastructure in India is like a glass half full. While it is still found lacking due to various bottlenecks, one may find a whole lot of opportunities in this sector in India. The government has been laying immense stress on infrastructure development and this has kept the sector ticking well.

In fact, one reason why this sector looks good to invest in right now is the speed at which the government has been moving ahead on the reforms front. This bodes well for the sector, which is likely to see a good upward trajectory once the reforms start gaining actual pace at the ground level. Infrastructure spending as a percentage of the GDP is expected to touch double digits in the coming years. As per a Planning Commission report, the government spent around Rs 20.54 lakh crore in the 11th Five Year Plan period on infrastructure development, and this is likely to go up to Rs 40.99 lakh crore during the 12th Five Year Plan period. Close to a trillion dollars are earmarked to be spent during the 12th plan period and this is no mean figure.

 

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