Infrastructure Development in India: Giving Pace to India’s Development
Oct 09, 2020
Infrastructure development in India leads to a nation’s progress. The significance of modern, efficient, and sustainable infrastructure has been well recognized across India’s political spectrum. The development of a country depends very much on the availability of its infrastructural facilities.
The infrastructure sector enjoys intense focus from the Government for initiating policies that would ensure the specified time frame creation of a world-class infrastructure in the country. Without a robust infrastructural base, a country cannot develop its economy.
The Government of India has been continuously striving to improve the infrastructure sector, including bridges, dams, roads, urban infrastructure development, etc. The government has made numerous strategies for infrastructure development in India. With a continuous substantial investment of the infrastructural projects during the four decades of planning, infrastructural facilities have recorded a phenomenal increase.
In the past, it was the Government’s responsibility to provide infrastructure services as it requires substantial capital investments, long gestation periods, high risks, and low returns on investment. However, since 1991 the Government has allowed private investments in infrastructure development projects, which encouraged better sharing of risks, cost recovery, and infrastructure management.
Recently in Union budget 2020, the Finance Minister of India launched Rs 103 trillion infra projects to augment India’s infrastructure and create jobs. While presenting the budget, the Finance Minister said the focus is on infrastructure for economic development and 6,500 projects across sectors under National Infrastructure Pipeline (NIP) envision ease of living for citizens. To give impetus to the infrastructure sector, Prime Minister Modi in his Independence Day Speech 2019, highlighted that Rs 100 trillion would be invested in infrastructure for the next five years.
Infrastructure Development in India: Achievements and Other Aspects
All these initiatives by the Government of India are expected to give a massive boost to infrastructure investment, which would help revive industrial production, generate employment opportunities, and create more than two crore jobs. Moreover, India has been witnessing significant interest from international investors in the infrastructure space. As per the Department for Promotion of Industry and Internal Trade (DPIIT), FDI in the Construction Development sector stood at the US $ 25.66 billion during April 2000n to March 2020.
Over the years, India has witnessed significant rise in the infrastructure development in India. Some of the achievements are:
- National Highways Authority of India (NHAI) accomplished the highest ever highway construction of 3,979 km of national highways in March 2020.
- Electricity production in India reached 1,252.61 BU in FY 20.
- In 2019 the infrastructure sector witnessed around seven Merger and Acquisition (M&A) deals worth the US $ 1,461 million.
Infrastructure development in India has been the focus area of the Government of India from the very beginning. Loads of investment is being put in to enhance the sector’s growth. The Government of India plans to spend US$1.4 trillion on infrastructure during 2019-23 to attain sustainable development of the country. For the development of railway infrastructure, the Government has announced an investment of Rs 5,000,000 crore between 2018-2030. Further, for the infrastructure development in India, Northeastern states in India have joined hands with Japan and have setup an India-Japan Coordination forum. For any country to become ‘self-reliant,’ it is required to have a sound infrastructure. With the mission of making India a ‘self-reliant’ nation, our organization Aatmnirbhar Sena will be joining hands with infrastructure companies to assist them in every possible way. For budding entrepreneurs in the construction-infrastructure sector, we will be providing training programs and required financial assistance to set-up the business. Our professionals will create a perfect business plan and a sound investor pitch deck to gain investments from investors. Aatmnirbhar Sena‘s eventual aim is to establish start-ups and innovative ideas by providing the required resources.
