New Delhi:CII in partnership with Ministry of Finance, Government of India, and the India Brand Equity Foundation, organized an India conference on - Emerging Opportunities for Private Sector in Infrastructure today in Tokyo as part of the Indo-Japan friendship year.
Addressing more than 150 business delegates from Japan, Dr D Subbarao, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, emphasized the vast array of opportunities that infrastructure development offered and called upon Japan to intensify its engagement with India in this sector.
He stressed the importance of the Public Private Partnership model as the essence of infrastructure development and with Japan’s quintessential work and production values, it could offer India ample learning.
Mr Yasuo Hayashi, Chairman, Jetro, stated that his organization would help promote business relationships between the two countries.They were soon going to open a third office in Bangalore and a business centre to support Japanese SMEs business operations in India.
Since the time that the Business Centre was opened in July last year 28 companies opened offices. He highlighted that infrastructure remained a concern for Japanese companies. Whilst the number of Japanese companies was over 300 in India, this number was not sufficient given the size of India.
The India infrastructure opportunity was highlighted in the subsequent session by an eminent panel of speakers from Government and industry.
Mr Vinayak Chatterjee, Chairman, Infrastructure Committee, Confederation of Indian Industry and Chairman, Feedback Ventures, informed the audience that Japanese Yen 40,000 bn was the size of the investment opportunity for next five years in Indian infrastructure.
Mr Arvind Mayaram, Joint Secretary, Department of Economic Affairs, Ministry of Finance, provided an overview of Business Opportunities in Infrastructure, emphasising the large untapped market, which represented a huge business opportunity for the private sector.
Mr Ashok Chawla, Secretary, Ministry of Civil Aviation, referred to the strides made by the aviation sector in India, referring to the ever-increasing new airlines, which emerging over 1992 and 2007. He referred to the Airport Regulatory Bill, recently approved by Parliament, which was expected to provide an iron-clad framework for the airport development regulatory environment.
Mr J P Batra, Chairman, Railway Board, informed that an investment of $7.7 bn was planned in Railways infrastructure and over the next five years the investment needs were expected to be around US$ 56 bn. The Railways looked to mobilise a large part of the investment requirement of at least $15 bn through debt and PPP. Mr Rajiv Lall, Managing Director and CEO, IDFC, elaborated on the financing options for PPP in infrastructure development in India.
The seminar was sponsored by ILand FS, IDFC and Feedback Ventures. On the occasion, India Brand Equity Foundation, prepared a special edition of its bimonthly magazine, India Now, a perspective, which outlined the phenomenal opportunities for infrastructure development in India.