PM: India needs over $150 bn for infrastructure

HYDERABAD: Prime Minister Manmohan Singh said on Friday that over $150 billion investment is needed in the next few years for development of the country’s infrastructure.

Speaking at the 39th Annual Meeting of the Board of Governors of Asian Development Bank (ADB) here, he said, "India's infrastructure need in next few years is estimated at over $150 billion."

ADB, which till now has funded public transport, power and urban infrastructure projects in India, is now looking at investments in new areas including restoration of water bodies, tourism infrastructure and agriculture.

India's investment rate, he said, was 31 per cent of the GDP. This along with foreign investment flow was expected to further increase in future.