Government to connect 700,000 villages with roads by 2019: ET Infra Focus Summit 2016
The Economic Times Infra Focus Summit charmed Delhi with delegates discussing on innovations in the world of infrastructure, real estate & its trends impacting both India and global areas. It threw light on positive market sentiments & growth, for India's economy to reach another level in becoming a stable nation, focusing on improving quality of life of its occupants.
The panelists came from different industries and professions, who gave their feedback on planning for an inclusive infrastructure, challenges in the infra space, among other topics.
A highlight of the show was Lt. Gen. Ravi Shankar (Director-General Border Roads) talking about urbanization and importance of infrastructure for sustainable growth. He quoted "The issue is not with green technology, the issue is with its execution and implementation. Effort is required; things have to be done as per procedure and a checklist and that engineers haven't just for an ego boost and a profit. Incentivizing via carbon credits will see engineers strive for even more green technologies. "
The event spoke about several challenges and governmental initiatives. The Indian government needs to draw private players to the highways sector. Thus, there has been a conscious policy shift by the government towards the hybrid annuity model. India requires more than $1.5 trillion in investment in the next 10 years to bridge the current infrastructure gap as the government intends to connect seven hundred thousand villages with roads by 2019 as a part of a massive modernization plan.
The government plans to build more airports, sea ports and generate more power, particularly renewable energy which is ecologically also better from all points view. A key cost component is tax optimization where substantial tax benefits will be provided for infrastructure projects.
In the new and renewable energy sector too, the cumulative installed capacity has crossed 44 GigaWatts.
Vijay Karla, Chairman, Ravin group of Industries, elaborated on the best practices in the sector of infrastructure and the impact of real estate, which are the key drivers of the next phase of growth for the industry. He commented "The next growth of infrastructure will not come from smaller players in the IoT, IT and here is where India is a key player in the back-end. For instance, you can't have the railways operate without a back end supporting it, and here is where skilling will have a great role to play in creating the requisite skills needed in the back-end". His insightful approach on changing trends in infrastructure focused on transforming the face of the industry.
The event facilitated discussions on Building Against All Odds – Countering Challenges. Addressing the topic, industry stalwart Raghav Chandra (Chairman, NHAI), addressed the audience quoting “Historically, countries and civilizations that have been well connected have progressed the most. It's heartening that things are happening and there is a lot of traction in the highways sector, it is one of the success stories of the nation. Today, I am proud to say that the World Bank Logistics Index has improved India's rank from 55 to 35. ”.
The ET Infra Focus Summit concluded with an evening felicitation ceremony who honored the best brands in the infrastructure space.