“We welcome the announcement of the establishment of an Infrastructure Finance Secretariat, aimed at aiding all stakeholders for increased private investment in the space. The Finance Minister’s proposal to identify 100 critical transport infrastructure projects to encourage cities and states to take up urban planning is something we expect to work in our favour. The focus on expanding infrastructure CapEx to 3.3% of GDP will lead to the creation of seamless connectivity between manufacturing sites, consumption centres and ports – this will have a high likelihood of attracting more industrial investments, leading to an overall increase in domestic consumption and exports. Moreover, the Urban Infrastructure Development Fund that will be set up in Tier 2 and 3 cities will add to an increased demand for Grade A warehousing for this market. Further, the allocation of Rs 16, 549.04 crore for the Ministry of Electronics and Information Technology means more investments in the already thriving electronics sector and spells good news. This, combined with the reduced import duty of Li-ion battery manufacturing and mobile camera lens, will drive more localised investments in the EV and mobile phone manufacturing space. Additionally, the government’s focus on green growth in the infrastructure and mobility sectors, among others, will help us meet our larger sustainability goals. Overall, we think that the Union Budget 2023, rightly dubbed the Amrit Kaal Budget, is a wholesome one that combines green growth with infrastructural progress and provides equal impetus to both sectors.”
