Energy from the Earth - new media

Focusto grow to 400 million by 2020.percent FDI in construction and maintenance of ports.An incentive package would include a 100 percentincome tax exemption for a period of ten years.The Indian Economy by itself can generate and allocatesavings to finance infrastructure projects which can besupplemented by FDI. In order to develop world classinfrastructure, India needs the cooperation and supportof its state governments. State government's supportwould be in maintenance of law and order, landacquisition, rehabilitation and settlement of displacedpersons, shifting of utilities and obtainingenvironmental clearances is necessary. In doing somany state governments have initiated several projectsthrough the PPP route to improve infrastructure. Upgrading of PortsIndian ports form an important medium through whichinternational trade is carried out by maritime transport.They require to be improved and upgraded from theircurrent status. A planned investment of US$ 25 billionby 2012 should increase efficiency and handlingcapacities which also includes projects dedicated toimproving inland waterways. Another aspect to portdevelopment includes opening up of several areas ofport operation to private sector and permitting 100Indian Rail Project Gets $975 mnWorld Bank LoanThe World Bank signed a $975-million loan 10 years to 2017.agreement with the Indian Government recently to“Dedicated freight corridors will not only meet thisbuild part of a massive freight railway line connectinggrowing freight demand, but also decongest thenorthern and eastern India, an official statement saidalready saturated rail network and promote thein New Delhi.shifting of freight transport from road to more efficient“The Indian Railways urgently needs to add freight rail transport,” Rajamony said.routes to meet the growing freight traffic in India,Transporting goods in India is expensive and slow -- itwhich is projected to increase more than 7.0 percentcan take more than two weeks to move a containerannually,” said Venu Rajamony, joint secretary at thefrom New Delhi to Mumbai.Department of Economic Affairs in the Ministry ofFinance, said in the statement.The World Bank will fund a freight corridor to the east,while the Japanese development agency JICA willIndia is ploughing huge investment into overhaulingfund a similar project running 1,483 km (920 miles)its ageing infrastructure network, which has long actedfrom the capital to Mumbai, alongside which areas a brake on growth in Asia's third-largest economy. Itplanned 24 new industrial cities.plans to pump in $1.5 trillion into infrastructure over15Indo-Canadian Business October - December 2011