Wednesday, May 10, 2017

India to reap huge gains from housing boom

qz.com:

Prime minister Narendra Modi’s ambitious plan to build homes for all Indians by 2022 could spark an economic revolution worth $1.3 trillion, which is a little more than Mexico’s GDP.

Between 2018 and 2024, some 60 million new homes are set to be built, mostly under the government’s affordable housing programme, as Asia’s third-largest economy looks to upgrade its people’s quality of life.

This is expected to create over 2 million jobs annually and add up to 75 basis points to India’s GDP, brokerage firm CLSA said in a report last week.

India is one of my top investment destinations for the next 10 years.

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