Public Private Partnerships: The Road Ahead
The debate on public-private partnerships has largely evoked partisan views. As many developed nations now look at public private partnerships to fund major infrastructure projects, there has been a renewed interest in PPPs not only in India but also worldwide. A public-private partnership offers a wide scope for project financing and innovative delivery approaches through access to capital markets, implementation of new technologies, expedition of project delivery in time-bound phased manners, operations and maintenance in cost-effective ways. India’s experiment with PPP has been around for roughly 20 years where the focus has been predominantly on asset creation. There is no surprise that most of the PPP concessions have been given to development of national highways and ports. The World Bank cited in its 2011 report that private participation was highly concentrated only in India. It ranks India as the largest market for PPP in the developing world, accounting for over half of ...