Sanyal says India needs Rs.50trn for sustainable infra development
India needs to create an infrastructure ecosystem that is compatible with all industries, General (Dr.) V.K. Singh, (Retd.), Minister of State for Road Transport and Highways, has told industry stakeholders during a national conference.
Addressing the senior members and industry stakeholders, General (Dr.) V.K. Singh, said, “If we want good and quality infrastructure then each one of us has to contribute towards it.”
“A good infrastructure contributes to the country’s growth immensely and once we have the quality infrastructure in place, it will ensure the socio-economic growth of the nation,” he said at the PHDCCI-organized National Conference on ‘Transforming India With Quality & Intelligent Infrastructure’.
“A mindset change is required where sustainable infrastructure is concerned to ensure economic growth,” stressed the General.
Each industry requires infrastructure be it health, education, roads, sanitation, etc.
“We cannot imbibe people if we do not provide good quality infrastructure to them. India needs to create an infrastructure ecosystem which is compatible to all Industry,” said Gen. Singh.
He noted that cost overrun and delays are the biggest impediment in the sector and to dispose it off, the government has taken some significant steps in this direction.
He also called for innovation in the sector and get rid of old file syndrome. The only way to enhance good projects is by investing in new technologies and making the processes easy and hassle-free.
There is still a lot which needs to be done, including more innovative technologies and methodologies for building intelligent infrastructure, to cater to the changing demands, while taking care of the environment, underlined Gen. Singh.
Dr. Ravi P Singh, Secretary General, Quality Council of India (QCI), highlighted that the main focus of QCI is on quality improvement while acknowledging that the high costs and delays in the sector are the main hurdles.
The government is doing a lot of work in this direction and identifying the gaps and taking them on a priority basis. Training is being provided to both the private and public sectors in project management in Indian infrastructure.
National Institute of Chartered Program & Project Professionals is also envisioned for working towards the cause of program and project management in India.
“Brain drain is a problem in India. Such an ecosystem should be created where young minds and young hearts are valued which in turn will benefit our entire nation,” he said.
PHD Chamber of Commerce and Industry President Pradeep Multani talked about Infrastructure development in India which is growing at a rapid scale on account of societal demand and need for cutting edge infrastructure.
He recounted that the Union Budget 2022-23 was primarily focused on the PM Gati Shakti Master Plan, a digital platform to bring 16 Ministries including Aviation, Waterways, Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.
Intelligent Infrastructure bridges the gap between the need for resources and the experts available to manage them.
Artificial Intelligence and Machine Learning enable self-service and automation up the “stack”, empowering experts to focus on activities that drive business value and a competitive edge, according to Multani.
Sudhir Hoshing, Chair, PHD Infrastructure Development Ports, Shipping, Roads and Waterways Committee, pointed out that more supply-side reforms are needed.
Creating new and upgrading existing infrastructure will be key to raising India’s competitiveness and achieving this target.
It will specially be critical for the success of the Make in India programme as manufacturing competitiveness critically depends on infrastructure, he said.
“The supply additions through infrastructure development boost short-term as well as the potential rate of GDP growth,” he added.
Himanshu Agarwal, Co-Chair, PHD Infrastructure Development Ports, Shipping, Roads and Waterways Committee, underlined, “People need to have seamless connectivity from Highways to rural habitats.
“India’s transformation requires infrastructure to be built by raising quality standards, monitoring quality during construction and in the service life by incorporating digital intelligence.
“The Government has to continue to play a catalyst role and disseminate the intent and knowledge to the stakeholders in each of the states,” said Agarwal.
Saurabh Sanyal, Secretary General, PHD Chamber of Commerce and Industry, highlighted that infrastructure activities accounted for 13% share of the total FDI inflows of US$81.72 billion in FY21.
“India will require Rs.50 trillion investments across infrastructure segment for sustainable development in the country,” he pointed out. fiinews.com
