PM's infra development vision to play catalytic role in overall economic growth: Assocham

Lauding PM Modi for launching landmark projects in Varanasi, industry body Assocham said expanding investment in infrastructure will generate jobs, promote tourism and play catalytic role in overall growth and development of Indian economy.

Assocham secretary general Uday Kumar Varma Wednesday said the government's vision for new and improved infrastructure that can serve the nation for a long time.

Varma was referring to the inauguration of a sewage treatment plant, two major national highways and an inland waterways project by the prime minister in his Lok Sabha constituency, Varanasi, on Monday.

The prime minister launched projects worth Rs 2,413 crore, which includes a multi-modal terminal on the Ganga river.

Varma said, "Infrastructure development will boost the confidence of domestic and global investors/stakeholders as it will reduce the cost of doing business, stimulate economic growth, spur job-creation and improve living standards of the people, not just in Uttar Pradesh but countrywide."
Considering that infrastructure is vital to economic growth, he said, "India's ability to realise its competitive potential depends on making smart infrastructure choices, thereby responding to economic, demographic, fiscal, and environmental changes in order to help people, places and businesses thrive and prosper."