Recently, Union Minister Nitin Gadkari said that there are huge investment opportunities for India especially in its vibrant infrastructure sector where projects worth Rs 44 lakh crore are under implementation as part of the National Infrastructure Pipeline (NIP) of Rs 111 lakh crore. The minister was quoted in a PTI report saying that NIP envisages an investment of Rs 111 lakh crore on infrastructure projects by the year 2024-25. At present, projects worth Rs 44 lakh crore out of the Rs 111 lakh crore, accounting for 40% are under implementation and worth Rs 22 lakh crore projects that account for NIP’s 20% are under development stages. Gadkari further said, framework of NIP includes 39% investment by the central government, 40% investment by states and 21% by the private sector.
Under the programme, investments worth Rs 25 lakh crore are envisaged in the energy sector, Rs 16 lakh crore is envisaged in irrigation, rural agriculture and food processing, 20 lakh crore is envisaged in the highways sector, Rs 16 lakh crore each in mobility and railways and an investment of Rs 14 lakh crore is envisaged on digital infra among others, the minister said. According to Gadkari, the highways sector has huge potential and in five years the toll income was slated to reach an amount of Rs 1 lakh crore from Rs 34,000 crore this year. He further said that it holds lucrative investment opportunities given 100% FDI permitted in the sector. The Modi government has ensured minimising risk to the private sector through various policy initiatives as well as introduced low risk models such as hybrid annuity model for the sector, he said.
For the sector, a target of investments to the tune of an amount of Rs 15 lakh crore has been set for the next 2-3 years, Gadkari said. The Delhi-Mumbai express corridor, worth Rs 1 lakh crore, spanning a distance of 1,300 km is expected to be completed in the next two years with the project’s 50% already completed. While in the next month, two more expressway projects, worth an amount of Rs 65,000 crore will be launched, he said.
The minister, while talking about the MSME sector, said it has a major role in redefining the nation’s economy and at present, the target is to take exports to 60% from 48%. In the next five years, 5 crore new jobs were planned in the sector while so far, 11 crore jobs have been generated already.