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

Larsen & Toubro chairman AM Naik stated on Thursday the outlook for FY22 is one in all cautious optimism, with the GDP regaining constructive territory due to the bottom impact within the first half, adopted by strong development within the second.
“We therefore believe the recovery is ‘delayed’ and not ‘derailed’,” Naik stated whereas addressing the corporate’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 undertaking pipeline is predicted to be collectively funded by the Centre, worldwide monetary establishments, state governments, PSUs and the personal sector, Naik stated. “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.”