“Infrastructure is the base of any economy with concerted efforts of the government in partnership with key stakeholders, Indian GDP is back to pre-COVID levels. India is on the path to sharp recovery and is going to be one of the fastest economies this year,” stated Mr Anurag Jain, Secretary, Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, India while addressing a session on Delivering Infrastructure-Ready India, on Time at the Partnership Summit 2021, organised virtually by CII in partnership with DPIIT, Government of India.
He further stated that the Government is focused on developing infrastructure projects at a fast-paced rate to meet the demands and aspirations of New India. Initiatives like National Infrastructural Pipeline (NIP), with more than 9000 projects worth over USD 2 trillion is poised to change the infrastructural landscape of the country. The National Monetization Pipeline (NMP), he said, will bring the much-needed efficiencies, access to infrastructural financing and latest technology when brown-field public assets will be monetized by the government. The newly launched National Bank for Financing Infrastructure and Development (NaBFID) is going to be instrumental in bridging the financing needs of the infrastructure sector.
Mr Vinai Thummalapally, Acting Director and Chief Operating Officer of the US Trade and Development Agency (USTDA), stated that USTDA has been working to strengthen the ties between India and the US by engaging with stakeholders like business partners, investment agencies, etc. with focus on clean energy, smart cities, aviation, railways, etc. The Ambassador added that focus on climate resilient infrastructure is the need of the hour and the US is pleased to partner with India through the initiatives of Global Partnership for climate resilience infrastructure, and US-India climate technology group for resilient infrastructure. Trust, mutual respect, and collective prosperity is the key vision to further strengthen ties for a better and resilient future, the Ambassador added.
The time for the future ready Infrastructure is now, stated Mr Piyush Srivastava, Senior Economic Advisor, Ministry of Civil Aviation, India adding that the Government has added impetus to the ongoing initiatives by launching the PM Gati Shakti Master Plan to have better project coordination, and timely completion of key infrastructural projects. Improving ease of doing business is the key mantra of the government, he said and numerous initiatives have been taken in this regard including the digitalisation of DGCA and BCAS services. He further stated that Airports Authority of India has planned to put in almost Rs 25,000 cr in the next 4-5 years on various aspects.
Mr Dip Kishore Sen, Whole time Director and Senior Executive Vice President (Development Projects), L&T noted that infrastructural spending by the Government has increased significantly in the past couple of years.
Mr Subrat Tripathy, CEO-Ports, Adani Group stated that the efforts to reduce India’s logistical cost below 14% of GDP is commendable and given its prime maritime position, India is poised to become the multimodal logistical hub of the world. Indian containers and container sized cargo must find access to the world market, he remarked.
Mr Manish Aggarwal, Partner and Head-Energy & Infrastructure, KPMG in India said that restrictions have been eased and a more investor friendly regime for the infrastructure sector to really take off and deliver on time is created.
Mr Atul Punj, Co-Chairman, CII National Committee on Construction, and Chairman, & Managing Director Punj Lloyd Group, remarked that Infrastructure not only creates an enabling environment for sustainable and equitable growth but also infuses demand in the economy and creates employment through its vast backward and forward linkages. He added that one rupee spent on infrastructure adds 2.5 rupees to the economy.
15 December 2021