‘Pickup in economic indicators gives hope for coming quarters’

‘Risk of third wave lingers, but we hope it will not be severe’

Indian mutlinational conglomerate Larsen & Toubro Ltd. is betting on key focus markets such as West Asia, Africa and the Far East for growth. Within India, it will continue to target projects funded by multilateral agencies, said , MD & CEO, in an email interview. Excerpts: Both the Indian economy as well as all its constituents comprising households, corporates and government are seeking to get back to growth momentum. The pickup in high-frequency economic indicators builds hope for the coming quarters. Government is committed to infra formation in India and we believe large parts of the national infrastructure pipeline [target] will be achieved. Creation of a development finance institution and announcements around recycling of operating assets are credible measures that have been recently taken up. With the pickup in oil prices, the Gulf Co-operation Council (GCC) is looking a lot better; and Africa with consistent multilateral funding support should do well. Having said that, the risk of a third wave and its consequent economic fallout does linger in our mind at this juncture, but we hope this will not be severe.