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Saturday, September 18, 2021

Recovery delayed, not derailed; optimistic of govt’s intent: Larsen & Toubro Chairman AM Naik

The project pipeline is expected to be collectively funded by the Centre, international financial institutions, state governments, PSUs and the private sector, Naik said.

By: Express News Service | Mumbai |
August 6, 2021 3:00:58 am
Mindtree promoters vow to oppose 'unprecedented, hostile takeover' by L&TLarsen & Toubro Chairman AM Naik (File Photo)

Larsen & Toubro chairman AM Naik said on Thursday the outlook for FY22 is one of cautious optimism, with the 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’,” Naik said while addressing the company’s AGM. “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 Centre, international financial institutions, state governments, PSUs and the private sector, Naik said. “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. The company is poised to capitalize on these opportunities as they emerge.”

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