The country needs to increase its investment in the infrastructure sector to 10 per cent of its total GDP to make the government's ambitious 'Make in India' programme successful, according to a joint study by industry body Assocham and Thought Arbitrage Research Institute (TARI).
"Investment in infrastructure needs to go up from the current level of 6 per cent of gross domestic product (GDP) to about 10 per cent to ensure Make in India initiative leads the country's growth...," the study said.
Suggesting that the pension and insurance funds being "long-term investors" may be mobilised for infrastructure spending, it said "public-private partnership model should be redesigned through engineering, procurement and construction model."
The theme of the study was "Make in India: The next leap", which was released by Assocham Southern Council Chairman Ravindra Sannareddy along with Director General D S Rawat here.
Stating that land acquisitions were needed to be facilitated for developing physical infrastructure, it said, "Special Economic Zones need to be revived by a systematic review for their failures (in attracting investments)."
The study also said the culture of entrepreneurship needs to rise in India as only 4.12 per cent of the population in the age group of 18 to 64 was indulged in business.
