Govt chalks out plan for Rs 100-lakh cr investment in infra over 5 years: Goyal
Engaging the private sector and working with a PPP model is how the plan will be made successful
Commerce and industry minister Piyush Goyal said the government has chalked out a plan envisaging an investment of Rs 100 lakh crore in the infrastructure sector over the next five years.
“The investment will transform availability and quality of infrastructure at airports, roads, highways, railways, ports... All infrastructure-related sectors (aviation, shipping, electricity, and oil & gas) are going to see a huge thrust in the next five years,” Goyal said at a ceremony.
Goyal, who is also railways minister said that Rs 100 lakh crore in the next five years is “not a small amount”.
The railways, he said, has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore which is an “unheard of investment spree”.
“Obviously, the government cannot put in this kind of money so we will have to engage the private sector. We will have to work closely through the public-private partnership model,” Goyal said.
The minister said Prime Minister Narendra Modi's decision not to join the mega trade deal Regional Comprehensive Economic Partnership (RCEP) was a bold decision to stand up and protect the rights and the interests of the Indian business community and ensure fair access.
“We cannot have a situation that India opens its markets to the world but we do not get an equal access, equal opportunity in the rest of the world. We have to engage with other countries to ensure non-tariff barriers do not stop our exports,” Goyal said.
India opted out of the RCEP early this month after negotiating the pact with 15 other Asia-Pacific countries for seven years.