Our view is that India is facing a decade of opportunity. If executed well, economic growth and hence market returns can be significant. In ‘The Next India’ series, we are attempting to study and articulate the size of the opportunity – from a macro perspective as well as looking at individual sectors. In the first of the series, “Cyclical Downturn to Structural Upturn”, published on May 12, 2014, the Morgan Stanley macro team discussed the long-term growth potential in India, concluding that 6.75% pa was achievable over the next 10 years, which would translate to a US$5 trillion economy by 2025. One of the components integral to the unfolding of this story is the build-out of infrastructure.