Goyal roots for smarter concession agreements, reducing litigation to make GatiShakti effective

New Delhi [India], February 28 (ANI): With India eyeing a competitive edge in the global market, the government is keen to boost the prospects of the PM GatiShakti National Master Plan which is seen to have the potential to lower logistics costs to 7-8 per cent of GDP, kickstart the virtuous cycle of private and public investment and have an accelerator effect on the economy.
Smarter concession agreements with the least scope for litigation and multi-stakeholder collaboration for upskilling in the logistics sector can help release the tremendous potential of this master plan, according to Commerce and Industry Minister Piyush Goyal.
Goyal on Monday suggested that states and central bodies plan utilities and infrastructure such as ports, electricity, water, internet connectivity, rail, road, common effluent treatment plants, packaging facilities, and skill development centers as per the needs of industrial clusters.
Addressing a webinar on creating synergy for accelerated economic growth, organized by the Department for Promotion of Industry and Internal Trade (DPIIT), the Commerce Minister drew attention to time delays which often rendered projects outdated and irrelevant, the difference between macro planning and micro implementation and the silos approach in decision-making led to wastage and loss of value.
Goyal highlighted the need for increasing infrastructure investment and enabling supply-side infra financing both by the public and private sectors. The Minister suggested creating workable financial models for projects to prepare smarter concession agreements and developing options for long-term and cost-effective agreements to encourage private sector participation in infrastructure projects.
Multi-stakeholder collaboration across academia, industry, and government for data sharing and upskilling the logistics sector, better coordination between various agencies for faster clearances for the land, environment, and forest were Goyal's other recommendations. (ANI)