PM Modi goes private to woo investment in infrastructure

New Delhi

MASSIVE opportunities, even bigger obstacles. That sums up private participation in Indian infrastructure, with investment plunging 84 per cent in the first half of 2014 from its peak in 2012 even as the economy grew at the second-fastest pace among major markets.

Prime Minister Narendra Modi is moving to eliminate those bottlenecks, which Ernst & Young said cost the economy at least 2 per cent of growth a year. After easing financing for airports, highways and power plants, he's now proposing an infrastructure company to attract investment from some of the world's wealthiest organisations.