Indian Prime Minister Narendra Modi pledged $1.4tn in infrastructure spending for his second term. Modi's infrastructure plan includes 60,000 km of national highways and increasing support for rural development, reports the Nikkei Asian Review.
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Saudi Arabia's Crown Prince, Mohammed bin Salman, promised to invest up to $100 billion in India's economy in the coming years, including in areas such as infrastructure, energy, and refining. The Crown Prince's visit to New Delhi follows a stop in neighboring Pakistan, where he signed $20 billion worth of investments in the country's flagging economy. The Crown Prince's next stop? Beijing.
Chinese President Xi Jinping is planning a visit with India's Prime Minister, Narendra Modi, as early as February. President Xi hopes to improve diplomatic relations with India ahead of China's second Belt and Road Initiative Forum in April, Nikkei reports.
Top Indian cement makers are set to witness a boom in demand this year amid increased government spending on affordable housing and infrastructure, reports the Nikkei Asian Review. Analysts peg road construction at the rate of 33 kilometers a day in the next fiscal year.
Saudi Crown Prince Mohammed bin Salman told Indian prime minister Narendra Modi at the G20 summit that he will soon be finalizing an initial investment in India's National Investment and Infrastructure Fund to help accelerate the building of ports, highways and other projects, reports the Nikkei Asian Review.
Japanese Prime Minister Shinzo Abe and Indian counterpart Narendra Modi agreed to collaborate on infrastructure, such as port and road projects in third countries like Sri Lanka, Myanmar, and Bangladesh.
Prime Minister Narendra Modi aims to launch India's first high-speed railway by August 2022. Faced with challenges in domestic procurement and land acquisition, project leaders are considering a partial opening to coincide with the 75th anniversary of India's independence.
Earlier this month, the leaders of Japan and India paused to lay the foundation stone for a high-speed railway. The new link illustrates the high-stakes competition underway to connect the Eurasian supercontinent. China has stolen the spotlight, but other regional powers are not standing still.
India has agreed to "explore and expand" Japan's role in developing the infrastructure of its Northeastern region bordering China, Myanmar, and Bangladesh as part of their "special strategic and global partnership."
Indian companies have started bidding to develop Iran's Chabahar port, a strategic project for which India committed to invest an initial $500 million during Prime Minister Narendra Modi's state visit in March.
Quotes and Quotas is a weekly digest of phrases and facts that help explain Asia’s infrastructure push.
Indian Prime Minister Narendra Modi hopes to balance against Chinese influence in the region with his "Make in India" campaign by drawing private sector involvement and increased competition.
India plans to spend a record $59 billion on projects such as rail, roads, and ports this year. Yet, despite the push for new infrastructure which is being spearheaded by Indian President Narendra Modi, many projects are struggling to attract enough funding to get off the ground.
During a recent trip to Europe and Russia, Indian Prime Minister Narendra Modi pushed a pro-globalization message.
Since it was launched two years ago, the China-Pakistan Economic Corridor has sparked praise, skepticism, and even violence, resulting in widespread confusion about what’s driving this $55 billion energy and infrastructure effort, and how it will impact the region.
Violent protests could derail India’s regional connectivity plans for years—a pause that India can’t afford.
In a productive November, Indian PM Narendra Modi has scored two major wins for Indian infrastructure.