India plans to invest $1.39 trillion in infrastructure to spur economy
India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country’s economy. Nirmala Sitharaman’s comments, as cited in local newspapers, followed data released on Friday that showed India’s economic growth slowed to 4.5% in the July-September quarter – its weakest pace since 2013 – upping the pressure on Prime Minister Narendra Modi’s government to speed reforms. Modi came to power in 2014 on the promise to improve India’s economy and boost foreign investments, but he has struggled to meet those aims due to a lack of structural reforms.