India Offers $250 Bn Investment Opportunity In Infrastructure

HYDERABAD: India needs $250 billion in next 20 years for basic urban infrastructure and this offers huge investment opportunities to international investors, said country`s Urban Development Minister M. Venkaiah Naidu.

He said the government is committed to promote private domestic and foreign investment in a big way.

The minister told XI Metropolis World Congress that began here Tuesday that the government has decided to allow Foreign Direct Investment (FDI) in infrastructure.

"As per estimates of a high power committee, India needs $250 billion in 20 years to put in place basic urban infrastructure relating to transport, water supply, sanitation and solid waste management alone," he said in his speech at the inaugural session of the conference.

Over 1,000 participants, including 135 from 40 countries, are attending the five-day conference to discuss and deliberate on various aspects of making urban cities inclusive with the theme for the event being `Cities for All`.

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