India to invest $1.2 trillion for infrastructural project advancements

In the wake of delaying infrastructure projects, Indian Prime Minister, Narendra Modi has recently hinted that technology can be a solution for thriving the country's infrastructure growth.

According to a $1.2 trillion (INR 100-lakh-crore) mega-project known as PM Gati Shakti, the Modi Government is building a digital platform that consists of 16 ministries.

Apparently, this portal will offer companies and investors a one-stop solution for designing projects, flawless approvals, and easier cost estimation.

Speaking on the latest move, Amrit Lal Meena, Logistics Special Secretary in the Ministry of Commerce & Industry, revealed that the goal is to accomplish the projects within the given time frame and at the precise cost.

Meena further said that making global companies choose India as one of their preferred manufacturing centers is the main objective.

Notably, fast-tracking the projects will benefit India, especially when China is close to the outside world and companies are increasingly looking out for a China-plus-one policy to expand and diversify their businesses and supply chains.

For the record, Asia's third-largest economy, India, not only offers cheap labor but also a large pool of talented and hardworking workers who can communicate thoroughly in English regardless of the unstable infrastructure that keeps many investors away. 

Apparently, India must deploy technologies to cut red tape to resume its halted infrastructure projects.

According to Meena, of the 1,300 projects that Gati Shakti's portal manages, roughly 40% were delayed due to problems like land acquisition, forest, and environmental permissions, ultimately leading to cost overruns.

Sources also claim that leading technology behemoth, Apple is planning to commence the iPhone 14 manufacturing in India two months after the product's initial release outside of China.

It is further reported that electronics major, Samsung Electronics Co introduced the world's largest mobile phone factory in the country in 2018.

In addition, homegrown electric two-wheeler manufacturer, Ola Electric Mobility Pvt has pledged to develop the worldwide leading electric scooter factory in the country.

Source credit - https://economictimes.indiatimes.com/news/economy/policy/india-has-a-1-2-trillion-plan-to-snatch-factories-from-china/articleshow/94608124.cms