The development and improvements in the road sector of India
The entire Indian infrastructure can not be complete without the road sector and its various developments. And taking its developments, the road sector of India has been experiencing rapid and full-fledged development in recent times. According to the Private Participation in Infrastructure database of the World Bank, our country is reported to have the most significant number of PPP road projects in the developing world. The private sector road sector transactions have also shown marks of development and flourishing.
The present discussion goes on to discuss the various private projects, their investments and how they have contributed mainly to the thriving numbers of the country's reports globally. All the transactions have occurred during the pandemic period, and the value can be reported to be higher than ₹44000 crores. The investments have been majorly from the foreign instructional investors or the FIIs.
The present discussion also mentions the reason behind it. It states that the probable cause must be a clear policy, regulatory and institutional framework element in the road sector. It has also been mentioned that the lack of an independent regulator in the country's road sector and the presence of the "regulation by contract" reflects the independent regulator is not necessary and also not enough for the private participation to grow and flourish.
Lastly, it mentions that the road sector of India has essential lessons for the different infrastructure sectors and also for the Indian infrastructure as well for levelling up the aspect of financing. It is because then the lack of infrastructure will not be a constraint in the growth of the economy of the country.