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India plans to put large infra projects in fast lane
Agencies
Synopsis
India is accelerating its infrastructure development with a focus on mega-projects like bullet trains, shipbuilding yards, and access-controlled highways, aligning with the Viksit Bharat 2047 vision. The government aims to boost economic growth through infrastructure creation, encouraging public-private partnerships to moderate spending. Ministries are directed to expedite project approvals, with a high-level committee reevaluating goals for faster clearances.
New Delhi: India is readying a big-ticket infrastructure push, focusing on large projects with long gestation periods. Officials said mega projects like bullet train corridors, large shipbuilding yards, multiple ports and cess control highways, in line with the infrastructure vision for Viksit Bharat 2047, will be given on fast track. After the big-ticket goods and services tax reform, the Centre is keen to give impetus to infrastructure creation to further support growth. The Indian economy grew 7.8% in the first quarter and the government wants to ensure that growth remains on track amid geopolitical risks and US tariff pressures.
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Ministries and departments have been directed to bundle projects and move them for requisite approvals expeditiously, said an official. “Projects of national importance that hold potential to transform lives across multiple states, such as an access-controlled interstate highway, will be prioritised,” a second official said, adding that public-private partnerships (PPP) will be encouraged for projects where a high return on investment is anticipated to help moderate government spending. Budget 2025-26 earmarked Rs 11.21 lakh crore for infrastructure spend.
According to the World Bank, India will need more private and public investment, increasing the real investment rate from around 33.5% of GDP to 40% by 2035, as a fundamental to long-term growth. Ministries have also been asked to identify large projects in line with the 2047 goal. “There is a renewed emphasis on large infrastructure projects that India needs in line with 2047 goals,” a senior government official told ET.
A high-level committee with Indian National Space Promotion and Authorisation Centre (IN-SPACe) chairman Pawan Goenka and top Niti Aayog representatives has been tasked with reevaluating goals identified by each ministry and finalising targets.
“Approvals for large infrastructure identified under the 2047 plan are being categorised for speedier clearances,” the official added. The Centre started preparing Vision 2047 plans in 2023 and firmed them up the following year. A final touch-up for these plans is currently underway. As part of its Viksit Bharat plan, the ministry of road transport and highways aims to construct 50,000 km of access-controlled highways over the next 10-12 years at an investment of over `20 lakh crore, a significant part of which is expected to come from the private sector. Both shipping and railways ministries are focussing on capacity augmentation and creation of worldclass infrastructure to cater to the needs of India by 2047, including bullet trains and mega shipbuilding clusters.
