PM Modi Initiates A 100-Trillion-Rupee ($1.2 Trillion) Project Gati Shakti To Compete With China
Concerned about the delaying of developmental projects, Prime Minister Narendra Modi has called for initiating a mega project to speed up the developmental work. PM Modi believes that only technology has the answer to the problems causing a delay in developmental projects.
• PM Modi initiates a 100-trillion-rupee project Gati Shakti to boost the developmental work
• The project involves creating a digital platform combining 16 ministries for investors and companies
• The important factor of the project is identifying clusters with huge potential for development
What Is The Stage Of Developmental Projects In India?
According to the latest data available, almost half of the infrastructure projects are delayed for one reason or another. Also, one in the four projects runs its estimated budget due to a lack of resources and technology. And it is a perennial problem that has become notorious over time. PM Modi has suggested a solution in making a mega project called Gati Shakti.
What Is Gati Shakti?
It is a digital platform created with a fund of 100-trillion-rupee ($1.2 trillion) to provide speed to development projects facing delays due to unspecified reasons. PM Modi has suggested making a platform combining 16 ministries to provide a one-stop solution for design, approval, and estimation of costs of the projects.
Amrit Lal Meena, special secretary of logistics in the ministry of commerce and industry, said that the mission was to implement projects without time and cost overrun. Global companies choosing India as their manufacturing center is the objective, said Amrit Lal Meena.
Anshuman Sinha, a partner at Kearney India who leads transport and infrastructure practices, said that Gati Shakti was about making it easier to have a flow of goods and manufactured components across the length and breadth of the country.
The only way to compete with China, apart from the fact there were political requirements of countries to move away, was to be as competitive on the cost as one can be, said Anshuman Sinha.