S K Narvar, Chairman of Capital India Corp, talks about PM Modi’s recent address at the Investors Summit in Madhya Pradesh about modernizing India with unprecedented infrastructural changes. Modiji is creating an India where the investment climate will become attractive for the country’s development.
Ques: Prime Minister Narendra Modi speech during ‘Invest Madhya Pradesh – Global Investors Summit 2023’, mentioned the present as the ‘Amrit Kaal’ to build a new, developed India. How do you view this perception?
SK Narvar: Honourable PM Shri Modiji mentioned the nation’s journey on a ‘reform, transform and perform’ path. IMF had declared us as the ‘bright spot’ of the global economy. The World Bank says India can deal with global headwinds better because of solid macroeconomic fundamentals. A strong leadership under PM Modi has helped attract international investors who understand the economic growth potential of our country. Together, it defines the ‘Amrit Kaal’. With our dual benefits of democracy and demography, we are viewed as an attractive emerging economy (EM).
Ques: What is PM’s vision of the National Master Plan?
SK Narvar: The National Master Plan (NMP) is bringing the entire nation’s infrastructure growth plan under a single platform implementing PM’s Gatishakti vision. Previously, infrastructure growth has often been haphazard or in select states, creating uneven experiences and blockages. However, an all-India plan led by the Central government and implemented by central agencies has led to speedier infrastructure building and better quality. As a result, the pace of construction of National Highways, airports and ports has been significantly speeding up. In addition, it has resulted in revenue and growth benefits to many other sectors and players.
Ques: What are the critical areas of infrastructure development that India needs today?
SK Narvar: First, PM Modi spoke of a stable yet decisive government which can implement and execute ideas on the ground. It has resulted in unprecedented development in the infrastructure space under his leadership. Today dedicated freight and industrial corridors, expressways, and logistics parks are becoming the new identity of modern India. A National Logistics Policy is being implemented to ensure faster and easier movement of goods, making us globally competitive.
When infrastructure development happens, it connects smaller cities and towns. This results in the creation of industries, jobs, and housing across the country, resulting in balanced development. The most significant benefit of India’s infrastructure and connectivity will result in the de-clogging of metros and a few towns which face pressure to accommodate more dwellers. Development of Tier 2-3 cities will get a fillip due to physical and digital infrastructure connectivity.
Ques: What is PM Modi’s overall message to global investors, and how do you think they will react?
SK Narvar: Funds and investments are required for any country’s infrastructure development. And I credit PM Modi for creating a positive and welcoming investment climate for global investors. Under his leadership, we are rated highly as a market for investments. PM Modi’s message is clear to foreign investors – we welcome you to partake in our country’s socio-economic development, especially infrastructure growth, and earn sustainable and long-term investment returns. And in return, we assure you of stable and business-friendly policies, fast decision making and transparent on-ground development.