G20 prioritises infrastructure investment
India needs infrastructure investment. According to GIH's Infrastructure Outlook 2017, infrastructure investment would cost $94 trillion by 2040. Asia may contribute 54% of global infrastructure investment, and 500 asset managers handled $104.4 trillion in 2019. An infrastructural deficit remains despite its relevance.
During the 2012 Los Cabos Summit, G20 governments recognised building country infrastructure. The Los Cabos Action Plan recommended infrastructure investment to boost productivity and living standards in Argentina, Australia, Brazil, India, Indonesia, Mexico, Saudi Arabia, South Africa, and the UK (UK). G20 2013 discussed long-term infrastructure funding, and long-term capital flows were needed for global financial markets and private infrastructure projects. India and the other G20 countries formed a Global Infrastructure Initiative during the 2014 Brisbane Summit. India created the Global Infrastructure Hub to promote "next-generation infrastructure, including digital infrastructure, and access to clean, affordable energy" (GIH).
G20 nations emphasised reducing investment obstacles and creating investment-ready projects. A knowledge-sharing network lets international organisations, development banks, and governments communicate infrastructure project information. They agreed to adopt G20 Investment Lending Practices.