The infrastructure sector is a major driving force for the Indian economy. This division is decidedly in charge of boosting the country’s overall expansion and enjoys powerful focus from the Government for setting off reforms that would make sure time-bound formation of world-class infrastructure in the country. This sector includes power and electricity, bridges, dams, roads as well as metropolitan infrastructure development.
In the fiscal year of 2016, India progressed nineteen spaces to now rank number thirty-five in the World Bank’s Logistics Performance Index. This place was out of one hundred and sixty countries in total.
Foreign Direct Investment
According to DIPP (Department of Industrial Policy and Promotion), the amount of Foreign Direct Investment received for the years 2000-17 was worth an approximate 25 billion US dollars. This was received by the Construction Development sector for the building and construction of townships and other housing projects along with other infrastructure projects.
In terms of foreign investors, a number of international business companies from all over the world have invested millions, if not billions into the country. Several key investments from such investors are sure to further boost up the steady rise of the country’s economy.
Local and national investors
In terms of local and national investors, the Road Transport and Highways Ministry, as well as the Shipping Ministry, have empowered quite a bit in the past three years for the construction of high-end highways and shipping infrastructure for the country.
The Government of India is taking each potential idea to enhance the infrastructure sector.
The future for this sector ahead is cautiously positive.
Several thousand kilometers of road is expected to be built by the Indian Highway Network by the fiscal year 2019, all this announced by the Ministry of Road Transport and Highway Authority.
Full access to wifi
Due to the technological advancements in the country, the government has also devised a plan to provide full access to wifi by the fiscal year 2019 to an approximate fifty-five thousand villages. This was stated by the Department of Communications.
Two countries have shown interest in augmenting the growth of the country; Japan and Sweden.
According to Mr. Kenji Hiramasu, the Ambassador of Japan to India, the two countries have joined hands to increase the development of infrastructure in India, particularly in the North-Eastern states. Furthermore, they are also planning to set up the India-Japan Coordination Forum for Development of North East to carry out planned infrastructure projects in the northeast.
Sweden, on the other hand, is very interested in ‘smart’ development. This includes the smart cities development in the country and has presented a proposal ‘Common Plan of Action’ for expanding sustainable and environment-friendly communal transport solutions and solid waste supervision for the smart cities under this particular development.
The private sector is also involved in a major way, for funding a number of infrastructure projects including the construction of highways and to roads and airports.
Energy infrastructure is also in the talks for improvement and could be the biggest boost to the country in the next decade.