'India needs $250 b to improve urban infra'

'India needs $250 b to improve urban infra'

International investors have ample investment opportunities in India as the country requires $250 billion in the next 20 years for creating basic urban infrastructure facilities for transport, water supply, sanitation and solid waste management, Urban Development Minister Venkaiah Naidu said.

At present, urban areas in India contribute over 60 per cent to the gross domestic product (GDP) and this will increase over 75 per cent in the next 10-15 years, Naidu said, addressing a seminar on urban infrastructure recently.

As per estimates prepared by the Urban Development Ministry, India needs $250 billion to improve infrastructure facilities.

There are ample opportunities for the international investors to come and invest in India, particularly in the urban areas, because the government has decided to allow FDI in infrastructure, he said.

Public transport
In India, as per the 2011 census, over 31 per cent of the population (or 377 million) live in the urban areas.

This is projected to rise to 600 million by 2030.
Emphasising the need to improve urban public transport systems, he said that the Centre would work with the states on the National Urban Transport Policy, which envisaged around 80 per cent of urban population to utilise public transport for intra-city commuting.

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