Host country: Embedding Innovations in Institutions, Technology and Modalities (June 26, 1630-1730), Godrej Dance Theatre, NCPA

Objectives

  • New age mobility projects (High Speed Rail, Hyperloop, Seaplane)
  • Innovative financing modalities (Toll-Operate-Transfer Model, Hybrid Annuity Model, Infrastructure Investment Trusts, Real Estate Investment Trusts)
  • Innovative technologies
  • Institutional innovations


Background:

Under futuristic infrastructure, feasibility of new age mobility projects in terms of High Speed Rail (HSR), Hyperloop, Electric Vehicles and Seaplanes (as amphibious multi-modal mobility for masses) are being considered for implementation. The Government of India has approved the Mumbai-Ahmedabad High Speed Rail project in December 2015 to be implemented using Japanese Shinkansen technology. The Digital India initiative (including BharatNET) has already created massive digital infrastructure. Services launched under the Digital India initiative are supplementing efforts under Smart City Mission.

The Government of India has introduced multiple institutional and financial innovations in the infrastructure sectors in the form of innovative financial vehicles such as Infrastructure Debt Funds, Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), Alternative Investment Funds, and new models of Public Private Partnerships (PPPs). So far as PPPs are concerned, the Government of India has tried out monetization of public-funded highway projects under Toll-Operate-Transfer (TOT) model and construction and expansion of over 60 highway projects under Hybrid-Annuity-Model (HAM). Under TOT model, functions of operation, maintenance and collection of fee is assigned for a 30 year concession period to financial investors and developers against upfront lump sum payment to the Government. The Hybrid-Annuity-Model (HAM) for road construction involves government sharing 40% of construction costs initially with the private sector.

The newly established National Investment and Infrastructure Fund (NIIF) promotes investments from both domestic and international sources for infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects.