India becoming favoured destination for FDI in infrastructure sector: Financial Services Secretary

Financial Services Secretary Vivek Joshi has said that India is becoming a favoured destination for Foreign Direct Investment (FDI) in the infrastructure sector as government has taken many supportive measures.

Speaking at an event organised by the India Infrastructure Finance Company Ltd (IIFCL) in London, Joshi said flagship initiatives like the National Infrastructure Pipeline, Gati Shakti, Sagarmala, Bharatmala, UDAN and Maritime India Vision 2030, among others, have created a lot of opportunities in the infrastructure sector.

The event, organised by IIFCL on October 30, saw participation of investors and other stakeholders from India and the UK. They also discussed potential avenues of investment in India's rapidly growing infrastructure sector.

IIFCL Managing Director P R Jaishankar said the company is driving the government' goals for a robust all-round infrastructure development in the country covering all sub-sectors, including road, railways, energy (including renewable energy), ports and airports.

He also talked about how various innovative products of IIFCL such as credit enhancement, takeout finance, InvITs (Infrastructure Investment Trusts) and project bonds have proven to be a game changer for the sector, according to a release issued on Thursday.