Morgan Stanley Praises PM Gati Shakti Scheme for Boosting India’s Infrastructure

New Delhi [India], June 27: American investment bank Morgan Stanley has praised India’s PM Gati Shakti scheme for its significant impact on infrastructure development. The report highlights that India’s infrastructure investment is expected to rise from 5.3% of GDP in F24 to 6.5% by F29, with a cumulative spending of USD 1.45 trillion over the next five years.

The PM Gati Shakti scheme, launched by PM Narendra Modi in October 2021, aims to provide integrated and seamless connectivity for the movement of people, goods, and services. It brings together 16 ministries for coordinated implementation of infrastructure projects, driven by seven key sectors: roads, railways, airports, ports, mass transport, waterways, and logistic infrastructure.

The report also highlights improvements in India’s logistics performance, with container dwell time reduced to three days and port turnaround time to 0.9 days, outperforming several other countries. In F24, ports saw a 7% growth in overall cargo, with major ports handling 53% of the cargo.

Under the PM Gati Shakti scheme, 101 projects worth Rs 609 billion have been identified for implementation in the ports and shipping sectors. As of April 2023, 26 projects worth Rs 89 billion have been completed, 42 projects worth Rs 153.4 billion are under development, and 33 projects worth Rs 366.4 billion are under implementation. Additionally, the Ministry of Ports, Shipping, and Waterways is implementing a Comprehensive Port Connectivity Plan.

Furthermore, under the Sagarmala programme, 220 projects worth Rs 1.12 trillion have been completed, 231 projects worth Rs 2.21 trillion are under implementation, and 351 projects worth Rs 2.07 trillion are at the evaluation stage. Development activities have also begun in the first 13 of the 26 viable National Waterways.