Overcoming Infrastructure Deficit will be a huge driver for economic growth in next decade - Kamal Nath

India is experiencing a huge infrastructure deficit as economic growth preceded infrastructure development. The Indian economy is not driven by large metropolises such as Delhi and Mumbai but by medium and small towns. We need to create huge investment potential for infrastructure development to achieve higher and sustainable growth rates. Infrastructure will be a huge driver for economic growth in the next decade stated Mr Kamal Nath, Hon'ble Minister of Urban Development, Government of India.

The Minister further emphasised that we need to build on various PPP models to overcome the infrastructure deficit in the country. There is no perfect PPP model and we need a combination of various models which is suited to the Indian context. Presently 32% of infrastructure projects are through PPP which needs to be increased to 50%.

 

He also called for a supportive business environment in the country in order to facilitate economic growth. The state governments should provide an enabling environment along with a business friendly investment planning for facilitating infrastructure development.

He also cautioned against too much self criticism of the prevalent system and stated that there should be harmony between the diverse sections of society for the smooth functioning of democracy.

Mr Suman Jyoti Khaitan, President, PHD Chamber in his welcome address asserted that the present policy paralyses is not good for the economic development of the country. India has produced some of the best industrialists in the world along with a good number of intellectuals who have made immense contribution to the economic development through various CSR activities. We should not be excessively self critical of the system as it presents a negative picture to the outside world.

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