Don't see any slowdown in public infra funding: Bentley Systems
Bentley Systems, the Nasdaq-listed infrastructure engineering software company, does not see any slowdown in India's infrastructure spending which will help its India business grow faster than the average of the company, said a senior company official.
Bentley Systems develops, sells, and supports software for the design, construction, and operation of infrastructure. Their software is used in the building, plant, civil, and geospatial markets.
«Even though a lot of infrastructure work is done by engineering firms and private companies, it is tied to public funding, and there's no slowdown in public funding for infrastructure. Infrastructure investments are going to be needed, to stimulate the economy,» Nicholas Cumins, CEO, of Bentley Systems, told ET.
Maintaining strong fiscal support for infrastructure over the next five years, the Indian government in the budget allocated a spend of Rs 11.11 lakh crore for capital expenditure for FY2024-25, which is 3.4% of GDP.
Bentley Systems has been in operation in India for over 24 years. Its user base includes firms across engineering and construction companies and several public sector agencies involved in the design, construction, and operations of infrastructure.
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