India to Become World’s Largest Infrastructure Goods Importer by 2030
According to the recently released HSBC Trade Forecast Report, by 2020 India is expected to surge past the United States as the world’s biggest importer of infrastructure goods – a position it is expected to hold until at least 2030. This is a result of the country’s increased demand for materials for infrastructure projects (i.e., metals, minerals, buildings and transport equipment) as it invests more in the building of its civil infrastructure.
The report, which focuses primarily on infrastructure, notes that as Asian economies grow they will take an increasing share of infrastructure-related imports over the next two decades. Currently, the U.S. tops the list of countries importing infrastructure goods, followed by India, Hong Kong, China and Germany. By 2030, India will sit up the top of this list, followed by the U.S., China, Hong Kong and Korea.
Sandeep Uppal, HSBC India Managing Director and Head of Commercial Banking…
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