The Hindu : Infrastructure will be improved to bring in foreign investment

Online edition of India's National Newspaper
Sunday, Jan 19, 2003

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National

Infrastructure will be improved to bring in foreign investment

By P.K. Bhardwaj

NEW DELHI JAN. 18. The country's infrastructure facilities will be comparable to those of the developed nations in the next two to three years, for facilitating flow of foreign direct investment, N. K. Singh, Member, Planning Commission, has said.

The first India Infrastructure Show 2003 would be held here in February to bring together the cross-section of stakeholders in the infrastructure sector from within the country and abroad and it would serve as a platform for them to showcase their products and gauge the potential and opportunities in the sector.

The show, to be organised by the CII between February 5 and 8, would be concurrently held with the 15th International Engineering and Technology Fair 2003, Mr. Singh said, addressing a media conference in his capacity as the chairman of the show's steering committee.

"This will be a multi- sector infrastructure show. Special efforts would be made to showcase the success stories in sectors such as roads and highways, ports and telecom," he said. " The event is expected to further attract foreign investments, particularly in the power sector. Recommendations are also likely to be made during the event and we are hopeful that these would translate into tangible action".

An award for excellence in infrastructure, instituted by the CII, to recognise individuals, projects and organisations whose contributions had been substantial to the economic growth would be given away at the show.

The event was likely to be attended by around 150 private companies, major PSUs and Ministries. It would include delegates from sectors such as aviation, port and shipping, capital goods, power and non-conventional energy, construction, railways, roads and highways, rural and urban infrastructure and housing, telecom and water. Around 22 countries were expected to participate in the meet.

On questions relating to reforms and infrastructure development, Mr. Singh said the leasing route so far as privatisation of the airports was concerned "is not out". The Bill seeking to change the Airport Authority of India Act to facilitate adoption of the route was before Parliament.

Replying to a question relating to the delay in privatisation of airports, he referred to the various options open to the Government and felt that the joint venture (JV) route suffered from the handicap of not evoking the right response due to the control resting with the Government. The participation would be limited in case of adoption of the route as private investors might not be enthused if they did not get control of the management. The Government would take an appropriate decision on the issue.

Asserting that there were no impediments to FDI in the infrastructure sector and that the existing fiscal incentives were likely to continue, he said those who did not honour their commitments would be the losers.

Expressing satisfaction over the credible progress made in infrastructure development relating to ports, roads and telecom, he said significant changes would be witnessed by the power sector as things start happening.

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