S.B. Nayar, chairman and managing director of India’s state-owned infrastructure financier India Infrastructure Finance Company Limited (IIFCL), has a bird’s eye view of what is arguably India’s most exciting and also, ironically, most difficult sector – infrastructure. In an interview with Consulting Editor Arnab Mitra, he speaks of how investor sentiment has improved tremendously over the last two years and how the sector is now poised for a quantum jump.

India needs $1 trillion in investments over the next five years to upgrade its creaking infrastructure to global standards but a combination of unfavourable market conditions, weak commodity prices, inability of Indian banks to lend large sums of money, poor raw material linkages and lack of urgency at the level of state governments have conspired to make the task even more difficult than it otherwise would have been.

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