Infrastructure is Key in Country’s Well-Being: VK Singh, MoS Road Transport

A long-term goal dedicated to the infrastructure sector will have a corresponding long-term impact on the Indian economy said Hon’ble Minister of State, Ministry of Road Transport and Highways, General Dr V.K. Singh (Retd.), at the Infrastructure Conclave 2019 organized by the PHD Chamber of Commerce and Industry.

General Dr V.K. Singh (Retd.) inaugurated the conclave and said that infrastructure plays a pivotal role in shaping the economy. He added that added that the industry can become stronger if land allocation processes are sped up, thus reducing costs of roads and highways. He stressed on implementing the latest technology so that we get faster, cheaper and better connectivity. He cited that the Ministry is streamlining the rules for DPRs in infrastructure projects. He also said that the Ministry will invite the industry in creating way side amenities in national highways and expressways. The development of bus terminals was also discussed during the session

Addressing the dignitaries, Dr D.K. Aggarwal, President, PHD Chamber of Commerce and Industry said that the Infrastructure industry is the lifeline of any country’s economy and India needs to focus on this sector to attain the goal of becoming a USD 5 trillion economy by 2024-25.

Though the government plans to spend around INR 100 lakh crores in the next five years in this sector, there is a need to revive private investment to attract Foreign Direct Investments. Project clearances should take lesser time and appropriate financing mechanisms are needed to be developed so that it will ensure efficient project management, he added.

Speaking at the Conclave, Mr Ashish Wig, Chairman, Infrastructure Development Committee, PHD Chamber, said that India is one of those countries which require funding in infrastructure sector because of rising population and demand. Since many of the Detailed Project Reports are being made without actually being on ground which incurs extra cost and does not give proper details of any project. Therefore, drones can be used for making DPRs as it will ensure appropriate outputs of planning and design phase of a project.

Among those who addressed the conclave were Mr. Alok Ranjan, Member (Finance), Inland Waterways Authority of India (Ministry of Shipping), Govt of India, Mr. R.K. Pandey, Member (Projects), National Highways Authority of India (NHAI), Govt. of India, Mr. T.Harikrishnan, Deputy General Manager, India Infrastructure Finance Co. Ltd.(IIFCL), Dr. Sridhar Mothe, General Manager-Contracts, NCC Ltd. among others.

The Infrastructure Conclave, 2019 “Challenges & Way Forward”, provided a platform to all stakeholders of the Road Transport and Highways industry to explore the viability of the policy changes and to discuss suggestions for exponential transformation and growth of the infrastructure sector.