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India : INDIA receives foreign infrastructure investments for USD 1 trillion
Publish Date : 15-Oct-2013
India's finance ministry stated that, India has called for foreign investors to construct its infrastructure sector terming it as a huge opportunity for the investors to reap benefits from the whopping USD 1 trillion earmarked by the country for that purpose, recently.
"There is huge opportunity for foreign investment. We have massive infrastructure projects underway," Indias finance minister P. Chidambaram was quoted as stating at a function in Washington DC.
"Total investment requirements for power, roads, ports, civil aviation etc. during the Twelfth Plan period is projected at USD 1 trillion, nearly half of which is expected to come from the private sector. This provides an ample opportunity for foreign investments to reap benefits from the high returns from India." Giving examples, the minister said the Delhi-Mumbai Industrial Corridor alone, entailing over USD 90 billion in investment, will link Delhi to Mumbais ports, covering an overall length of 1,483km passing through six states.
According to Chidambaram, India is encouraging Public Private Partnerships (PPP) as an effective tool for fetching in private-sector efficiencies for supplying of quality public services.
"India, in recent years, has emerged as one of the leading PPP markets in the world, because of several policy and institutional initiatives taken by the government. We have over 1,000 PPP projects in the infrastructure sector with a total project cost (TPC) of about USD 97 billion," the minister added.
"This happens to be the second of the Indian Infrastructure Funds that was encouraged by the Government of India in 2008 through a direct commitment of USD 25 million," added by him.
