By fiscal year 2023, India will be looking at a whopping investment requirement of Rs 38.6 trillion in the infrastructure sector. Over a period of time, the government spending has completely overshadowed private sector investment which was 37 per cent in 2008, and a gradual downward curve between 2013 and 2017 was witnessed.

The highway sector has been the ignitor of PPP framework in India. The sector has received a significant support from the government and NHAI has played its role well through constant innovation.

While the road sector is arguably in a sweet spot, land acquisition is unquestionably the biggest hurdle afflicting roads development.

The National Investment and Infrastructure Fund (NIIF) is planning a third fund targeting investment in greenfield projects, with a view to provide long-tenor financing. Sujoy Bose, Managing Director and Chief Executive Officer, NIIF shares some insights, particularly on the roads sector.

Bharat Heavy Electricals (BHEL) has awarded twin boiler equipment orders to GE Power’s Steam Power business for supercritical thermal power projects at Patratu in Jharkhand and Udangudi in Tamil Nadu

Stakeholders harp on the government's infrastructure push and expect construction orders of Rs.18 trillion in the next six years. This order inflow volume should support 12 to 15 per cent of industry-level execution of compound annual growth rate (CAGR).

The initiatives that will have a direct bearing on the pace of execution include awarding projects after securing 80 per cent right of way, expediting projects stuck midway, delegating the power to grant forest clearances to regional offices, filing online for clearances to construct road over bridges (ROBs) and road under bridges (RUBs) and increasing the limit on sand mining.

The Railways has sizeable capex plans for the five year period 2015-19 involving a capital outlay of Rs.8.56 trillion. The annual capital outlay for FY2016-18 was increased significantly to meet the five-year targets. NITI Aayog has also finalised the three year action agenda (2018-20).

The last two decades witnessed highway infrastructure being developed on a massive scale in the country. Now the government has unveiled another huge new highway development programme (covering 83,000 km) under the Bharatmala Pariyojana, which will see a paradigm shift in highway development with focus on improving the efficiency of the national corridor and a long-term view on the highways network.