LONDON: Eight projects, together with Delhi-Meerut Regional Rapid Transit System, highways and some associated to inexperienced hydrogen and renewables, have been recognized for help and funding beneath the UK-India Infrastructure Financing Bridge, representatives from the 2 sides stated on Wednesday.
“Now we have formally committed to each other today, we can start to drive forward, hopefully at pace, because there’s a lot to be done and there’s a big agenda,” stated Chris Hayward, coverage chairman of the City of London Corporation.After nearly two years of debate, Niti Aayog and the City of London Corporation signed an settlement that can enable international firms to carry worldwide requirements to make the projects engaging for funding.
“The potential is huge. The idea is to pick up one or two marquee projects, structure them around building and design standards, which are global in nature and address perceived risks so that the cost of capital is reduced, making the projects attractive to investors to invest. The bridge itself is not about getting into the bidding process. It’s about bringing it to a stage where projects are then amenable to international finance,” stated Niti Aayog CEO BVR Subrahmanyam.
The transfer comes as India and the UK negotiate the proposed FTA, which has been within the making for over 15 years, with a overview by the brand new Labour govt delaying a choice. “On our side, we are ready to move forward as and when our partners are ready,” High Commissioner of India to the UK Vikram Doraiswami stated.
Subrahmanyan stated: “The fingers are touching but are not yet at handshaking distance – an extra five inches and you can grab.” He added: “Institutions are not yet global in India. When you think global, you are open to free trade.”
“Now we have formally committed to each other today, we can start to drive forward, hopefully at pace, because there’s a lot to be done and there’s a big agenda,” stated Chris Hayward, coverage chairman of the City of London Corporation.After nearly two years of debate, Niti Aayog and the City of London Corporation signed an settlement that can enable international firms to carry worldwide requirements to make the projects engaging for funding.
“The potential is huge. The idea is to pick up one or two marquee projects, structure them around building and design standards, which are global in nature and address perceived risks so that the cost of capital is reduced, making the projects attractive to investors to invest. The bridge itself is not about getting into the bidding process. It’s about bringing it to a stage where projects are then amenable to international finance,” stated Niti Aayog CEO BVR Subrahmanyam.
The transfer comes as India and the UK negotiate the proposed FTA, which has been within the making for over 15 years, with a overview by the brand new Labour govt delaying a choice. “On our side, we are ready to move forward as and when our partners are ready,” High Commissioner of India to the UK Vikram Doraiswami stated.
Subrahmanyan stated: “The fingers are touching but are not yet at handshaking distance – an extra five inches and you can grab.” He added: “Institutions are not yet global in India. When you think global, you are open to free trade.”
