India will invest the most in infrastructure development, emerging the highest spender in the world, even as global investments in infrastructure will top $50 trillion over the next 25 years, according to a study.
A multi-country study by Royal Institution of Chartered Surveyors (RICS) has said that while the investments will project the Indian economy into a position of global leadership, successful implementation and application of public-private partnerships with regards to urban infrastructure projects in the country remains a bottleneck.
"A RICS research across five countries has revealed that India will emerge as the leading spender on infrastructure development, including urban infrastructure over the next 25 years. The global spends on infrastructure during this period is pegged at $50 trillion as countries seek to project their respective economies into positions of global leadership," the report said.
The study included countries such as the United States, Canada, the UK, Australia and India.
Minister for urban development Kamal Nath had said that India's greatest urban infrastructure challenges lay in smaller cities and towns due to a capacity building deficit. He had also advocated a remodelling of public private partnerships to enable sustainable infrastructure development, access to capital markets, capacity building, reform content and ability to meet timelines.
The RICS report also reveals that in the Indian context, successful implementation and application of public-private partnerships with regards to urban infrastructure projects remain a bottleneck and therefore is an area of concern.
The findings were part of a report titled 'The Future of Private Finance Initiative and Public Private Partnership' released by Kamal Nath at the RICS International conference on 'Planning and Delivering Urban Infrastructure in Indian Cities' held in New Delhi today.