ADB chief meets captains of Indian industry, calls for focus on infrastructure development

November 14th, 2007 - 2:04 am ICT by admin  
Kuroda also emphasized the importance of public-private partnerships (PPPs) in mobilizing resources for the infrastructure sector. India’s experience in designing and executing such partnerships could then become a lesson for other emerging economies.

The delegation of Indian companies was led by Vinayak Chatterjee, Co-Chairman, CII Infrastructure Council and Chairman, Feedback Ventures. He welcomed the role being played by ADB in making resources available to the Indian infrastructure sector. In particular, he welcomed their involvement in state level projects. He urged them to be more involved in financing projects undertaken by the private sector as well.

Arvind Mayaram, Joint Secretary, Ministry of Finance, also present at the meeting, said that the involvement of ADB in financing private sector projects in infrastructure would deepen the appraisal capacity of Indian financial institutions.

According to others present at the meeting, the presence of ADB would enhance the credibility of a project. Other critical roles that the ADB can play include the provision of guarantees and take-out finance.

Other issues discussed at the meeting include the issue of slow implementation of projects and how rapid urbanization will make it imperative to provide adequate infrastructure including low-cost housing.

Other CII members present at the meeting included Dr. K C Chakrabarty, Chairman, CII Banking Committee and CMD, Punjab National Bank, S Sridhar, Chairman, National Housing Bank, Ash Gupta, Chairman, CII MNC Committee and Managing Director, Honeywell International, R V Kanoria, Chairman CII WTO and Trade Agreements and Chairman and MD Kanoria Chemicals and Industries, Suneet K Maheshwari, Chief Executive, L and T Infrastructure Finance, S Sandilya, Chairman CII Environment Committee and Chairman, Eicher Group. Ashok Lahiri, Executive Director, ADB, Lee Howell, Senior Director, World Economic Forum and Ajay Khanna, Deputy Director General, CII were also present at the meeting. (ANI)

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