The outlook for FY 2021-22 is one of cautious optimism, with the country’s GDP regaining positive territory thanks to the base effect in the first half, followed by robust growth in the second. We therefore believe the recovery is ‘delayed’ and not ‘derailed’.
Given the scale of India’s infrastructure deficit, we remain optimistic about the Government’s intent to complete the projects as envisaged in the National Infrastructure Pipeline. The project pipeline is expected to be collectively funded by the Central Government, international financial institutions, State Governments, PSUs and the private sector.
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Since infrastructure investments serve the twin benefits of improving productivity and generating employment, we believe that the underlying macro drivers for investments in India remain intact. Your Company is poised to capitalize on these opportunities as they emerge.
(Extracted from the keynote address by L&T Group Chairman, A.M. Naik, delivered on August 5, 2021, at the AGM of Larsen & Toubro)
