Daijiworld Media Network - New Delhi
New Delhi, Jul 25: India's sustained focus on infrastructure development is drawing increasing global recognition, with a new report by World Finance highlighting the country's large-scale investments in transport, energy, manufacturing and logistics as key drivers of long-term economic growth under Prime Minister Narendra Modi's leadership.
The report states that over the past decade, India has undertaken one of the most ambitious infrastructure transformation programmes in recent history, modernising critical sectors ranging from railways and ports to renewable energy and industrial manufacturing.
Highlighting the country's logistics network, the report cites the movement of cargo from Jawaharlal Nehru Port in Mumbai to the industrial hubs of Dadri and Khurja in Uttar Pradesh through dedicated high-capacity freight corridors. According to the publication, containers are transported over a distance of nearly 1,500 kilometres in just over a day, significantly improving efficiency and reducing transit times.
The report also points to Indian Railways' rapid modernisation, noting that the network has achieved 100 per cent electrification of its broad-gauge routes. It compares India's achievement with several advanced economies, observing that rail electrification levels are considerably lower in countries such as the United Kingdom and the United States.
Over the past six years, Indian Railways has been adding more than 15 kilometres of electrified track every day, resulting in an extensive network of around 70,000 kilometres of electrified broad-gauge railway. The publication describes this as a cornerstone of the government's wider strategy to modernise transport infrastructure and improve connectivity across the country.
The report says these infrastructure investments have contributed to India's strong economic performance. Citing Australia's Treasury, it notes that the Indian economy recorded annual growth of between 6.5 and 7 per cent during Prime Minister Modi's first decade in office, while remaining among the world's fastest-growing major economies despite the temporary setback caused by the COVID-19 pandemic.
Looking ahead, the International Monetary Fund (IMF) projects that India will continue to maintain robust economic growth through 2035, reflecting confidence in the country's long-term development prospects.
According to the report, structural reforms have also strengthened the economy. It says the government's demonetisation initiative accelerated the adoption of digital payments, while subsequent tax reforms broadened the tax base. The introduction of the Goods and Services Tax (GST) replaced multiple state-level indirect taxes with a unified national tax system, simplifying the country's taxation framework.
The publication also highlights India's ambitious transition towards electric mobility. Through the Faster Adoption and Manufacturing of Electric Vehicles (FAME) programme, the government has sought to encourage the adoption of electric vehicles by initially focusing on two-wheelers, three-wheelers, commercial vehicles and buses before expanding to passenger cars.
To support the transition, incentives were introduced for manufacturers producing battery-free electric vehicles that could utilise battery-swapping stations. The report notes that the model has attracted interest from major automobile companies, including Honda and Piaggio, due to its potential to significantly lower vehicle costs and reduce charging time.
On the renewable energy front, the report identifies the Khavda Renewable Energy Park in Gujarat as one of the world's largest clean energy projects. Spread across an area several times larger than Paris, the project, being developed by Adani Green Energy, is expected to generate 30 gigawatts of renewable power through a combination of advanced solar and hybrid wind-solar technologies.
Once completed, the project is expected to supply clean electricity to more than 16 million homes. The report notes that the initiative aligns with India's broader objective of achieving 500 gigawatts of non-fossil fuel power generation capacity and producing five million tonnes of green hydrogen annually by 2030 to support the decarbonisation of heavy industries such as steel manufacturing.
Overall, the report concludes that India's coordinated investment in infrastructure, logistics, clean energy and economic reforms is positioning the country for sustained long-term growth while enhancing its competitiveness in the global economy.