Govt eyes USD 700-bn urban infra investment by 2031
According to the Joint Secretary and Mission Director, Ministry of Housing and Urban Affairs, Kunal Kumar, India needs around USD 700 billion of investment from 2021 to 2031 to boost its urban infrastructure services like Urban Mobility, Affordable Housing, Water Security, Clean India Mission and Smart Cities Mission. The broad objective is to demonstrate India's innovative case studies and attract investments to India, fostering market access for other countries. India is a USD 3 trillion economy and aggressively moving towards becoming a USD 10 trillion economy by 2030 and one of main constituents of this growth will be a massive urbanization happening in the country. Rapidly urbanizing India presents exciting investment opportunities for private sector in Indian cities to address several challenges like improving quality of urban services such as water, sanitation, urban transport and planned development of land resources. The Central government since 2014, has already invested USD 160 billion on creating and upgrading urban infrastructure and ensuring ease of living for the citizens. India‘s investment in the urban sector has jumped by over 600% during 2014-2021 as compared to 2004-2014. Urban Development is the key to India‘s growth story because it needs productive, liveable cities that ensure ease of doing business. The Government has created a National Infrastructure Pipeline (NIP) for infrastructure projects worth USD 1.5 trillion to be completed during 2020-25. Major focus of NIP is across energy (24%), roads (18%), urban (17%) and railways (12%). Each of these urban missions present opportunities for global companies to invest and grow. With total investments worth USD 28 billion, the Smart Cities Mission is realizing the vision of 100 smarter Indian cities in addressing the challenges of increasing urbanization and ultimately the plan is to cover more than 4,000 cities across the country.
📅Published on:
10 November 2021
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Defence Minister Rajnath Singh has said that strategic infrastructure such as roads, tunnels, airfields and ports will remain indispensable for national
The Centre has allocated Rs. 1,000 crore for the construction of 2,400 km of rural roads in West Bengal and approved the construction of one lakh houses under
KEC International Ltd., an RPG Group company, has secured new orders worth Rs. 1,180 crore across its Transmission & Distribution (T&D), Renewables, Civil, and
The Indore Development Authority (IDA) has shelved the proposed elevated road project from Malwa Mill to Rasoma Square via Patnipura after a detailed technical
Union Home Minister Amit Shah launched the 'Mission 70 Lakh Plantation' campaign in New Delhi and inaugurated multiple infrastructure and environmental projects
Prime Minister Narendra Modi dedicated, inaugurated and laid the foundation stone for development projects worth around Rs 1.06 lakh crore in Balotra, Rajasthan
Housing and Urban Development Corporation (HUDCO) has signed a memorandum of understanding (MoU) with the Bihar government to provide loans of up to Rs 1 lakh
The National Human Rights Commission (NHRC) has taken suo motu cognizance of the fatal collapse of an under-construction warehouse building in Kolkata, where
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
