A quarter century of public-private partnership

With the government aiming to channel private capital to monetise brownfield operating assets, PPP may well be set to see a revival

It is not that India did not have a history of private capital in its infrastructure development. The railways, in the latter part of the 19th century, were largely set up with sterling capital. Electricity distribution companies in Mumbai, Kolkata and Ahmedabad have existed under private control; as did private generation of power in pockets.

The early 1990s witnessed the green shoots of public–private partnership or PPP before it mainstreamed into economic policy. Spectrum’s Kakinada and GVK’s Jegurupadu power plants were two of the eight fast-track projects approved by the government in 1992. Infrastructure Leasing & Financial Services’ 12-km long Rau-Pithampur