Top News
India needs Rs 50-tln investments in infrastructure: CII
Bengaluru, Sep 11 (IANS) The infrastructure sector in India would require about Rs 50 trillion ($778 billion) by 2022 as a key growth driver for sustainable development across the country, said an industry official on Tuesday.
“The infrastructure sector, comprising core sectors like power, roads, highways and renewable energy, will require Rs 50-trillion investments over the next 4 years to have sustainable development in the country,” said Confederation of Indian Industry (CII)’s Karnataka unit Chairman N. Muthukumar at a day-long conference here.
Participating in the CII annual conference on infrastructure themed “Impact of Technology on Infrastructure Development & Changing Workplace”, Muthukumar said while core sectors would drive the investments in the years to come, with proper infrastructure, land use by industries could be reduced by 40 per cent.
“Infrastructure development influences the overall development of the economy. The private sector is emerging as a key player across various segments, from roads and communications to power and airports,” said Muthukumar, who is also President of Automotive Axles Ltd.
Noting that the infra sector is critical to propel growth, Volvo India Managing Director Kamal Bali said as good infrastructure and logistics are pre-requisites for a healthy economy, India has a long way to go.
“The cost of logistics in India is 14 per cent of the GDP as opposed to 8 per cent in the rest of the world, resulting in a wastage of $150 billion a year. With 62 per cent of logistic movement in the country by road, stress on surface infrastructure is huge, resulting in 75,000km per year per truck as against 450,000 km in China,” Bali said.
Though urabanisation is a sign of a developing economy, Sri City President Satish Kamat said, providing right infrastructure is critical, as mistakes in the sector could not be corrected easily.
“Infrastructure affects a nation’s social and economic fabric and when intertwined with technology, it becomes a force multiplier,” asserted Kamat.
He advocated the use of Internet of Things, Artificial Intelligence, machine learning and deep learning in infra development to ensure longevity and effectiveness.
Highlighting the issues facing the infra sector, Kamat said lack of long-term finance, skill upgradation and technology solutions are holding up its growth pace.
“We need the right infrastructure, developed at the right speed and using the right technology to ensure the country is future ready,” asserted Kamat.
CII’s state infrastructure taskforce convener Syed Mohammed Beary lamented that a city like Bengaluru lacks the right infrastructure though it is suited to be one of the world’s best.
“In India, we build infrastructure after a city grows, while good infrastructure builds great countries and futuristic cities,” Beary pointed out.
Karnataka Industry Minister K.J. George, who was to inaugurate the conference, and state Urban Development Secretary Mahendra Jain, who was to deliver the special address, were conspicuous by their absence.
“There was no official representation from the state government at the conference,” a CII office told IANS here.
–IANS
fb/nir
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
