FM Sitharaman says public funding remains essential, seeks more German investment in Indian urban infrastructure
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- ✓Finance Minister Nirmala Sitharaman said on October 16 that India needs more German investment for urban infrastructure.
- ✓She noted that private capital cannot replace public funding for basic services.
- ✓“With a pipeline of nearly 1 billion euros, there is considerable scope to deepen cooperation in line with India’s priorities,” she said.
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- BUSINESS
- Reported By
- Moneycontrol
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
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India is looking to deepen cooperation with Germany to finance sustainable urban infrastructure and attract greater private investment, while emphasising that private capital cannot replace public funding for basic services and inclusion, Finance Minister Nirmala Sitharaman said on October 16.
With India’s urban population projected to reach 951 million by 2050 and investment needs for resilient, low-carbon urban infrastructure and services estimated at more than $2.4 trillion, Sitharaman said the country needs to strengthen municipal finances, prepare bankable projects and use public resources to mobilise additional capital.
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