Email this article | Print this article
India’s prime minister says his country’s “creaking infrastructure” is becoming a pressing problem and called for $1 trillion to be spent between 2012 and 2017.
The goal is astounding, but so is the need. Many of India’s 1.1 billion people live without access to clean water, reliable electricity and stable shelter.
India’s rapid urbanization is overwhelming its cities. A special Financial Times report said that only 25 percent of India’s large cities has adequate transportation systems.
India isn’t alone in its vital infrastructure needs. The International Monetary Fund says Asia has to invest $8 trillion over the next decade to fight poverty and boost productivity. In Mexico, President Felipe Calderon wants to raise some $6.6 billion in infrastructure investments by 2012.
China was early to recognize infrastructure investment as an economic growth driver, and the bulk of its 2009 stimulus package went to that purpose. It appears that other governments are seeing the light.
Don’t forget that tomorrow we will be hosting a special Web presentation called “Building a Better World: The Global Infrastructure Opportunity.” Our Global MegaTrends Fund team and researchers from Macquarie Group will participate.
