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Pvt investment in infrastructure still below par: Study

Our Bureau

New Delhi , Aug. 24

DESPITE the thrust on involving the private sector in infrastructure development through public-private partnerships, private sector investments are still below par, according to a paper prepared by the Confederation of Indian industry (CII).

The CII study points that India offers 12 per cent of the global market, while Asian presence, particularly that of China, is increasing rapidly.

Ten Chinese companies, four Korean companies and one from Egypt had a turnover in excess if $1.2 billion in 2002. In contrast, the largest Indian construction company would have a turnover of about $600-700 million, with the second at around $200 million.

India must actively encourage the flow of financial resources to this sector, says CII. For this to happen, real estate developers must be rated, and local bodies must insist on it.

There is also a need to tackle project management on a war footing so that it becomes more efficient.

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