Private investment, PPP key for urban growth: Venkaiah Naidu

Naidu says the urban infrastructure sector offers a Rs.73 trillion investment opportunity for private sector and PPP investments over the next 15 years


File photo. 
The Smart Cities mission which selected the first 20 cities in the first phase last week has also given a push to PPP investment, Venkaiah Naidu said. 
Photo: Pradeep Gaur/Mint
File photo. The Smart Cities mission which selected the first 20 cities in the first phase last week has also given a push to PPP investment, Venkaiah Naidu said. Photo: Pradeep Gaur/Mint

New Delhi: Public-private partnerships (PPP) have a key role in India’s urban growth given increasing resource requirements, Union minister for urban development and housing and urban poverty alleviation M. Venkaiah Naidu said.

At a session on the ‘Current status, outlook and investment opportunities in developing urban infrastructure’ at the India Investment Summit organised by the finance ministry on Thursday, Naidu said the urban infrastructure sector offers a Rs.73 trillion investment opportunity for private sector and PPP investments over the next 15 years.

The Smart Cities mission which selected the first 20 cities in the first phase last week has also given a push to PPP investment, Naidu said.

Ten of the 20 smart cities have laid down clear road maps for mobilizing PPP investments of about Rs.9,000 crore. These cities include Jaipur (Rs.2,563 crore), Belgavi (Rs.1,006 crore) and Davanagere (Karnataka) and New Delhi Municipal Council with Rs.797 crore each.

The central government has launched the Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation and the Housing for All mission. The Swachh Bharat Mission aims to provide basic sanitation facilities.