Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: India G20: Understanding Infrastructure, Building Cities of Tomorrow
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Opinion > India G20: Understanding Infrastructure, Building Cities of Tomorrow
Opinion

India G20: Understanding Infrastructure, Building Cities of Tomorrow

RK News
Last updated: January 13, 2023 9:46 pm
RK News
Published: January 13, 2023
Share
6 Min Read
SHARE

V.ANANTHA NAGESWARAN AND APARAJITA TRIPATHI

 

One of the immediately observable identifiers of a region’s economic status is the quality of its infrastructure. As a driver of economic growth, infrastructure spending is emphasised by Governments all over the world as a lever for employment and enhanced socio-economic development. World Bank states that a 10% increase in infrastructure spending correlates directly with a 1% increase in GDP over time.

 

After the G20 was formed in 1999 to deliberate on global economic and financial issues in the wake of the Asian crisis, it was thought that given the Group’s combined population and economic strength, topics for discussion under its ambit must be expanded. Thus, in 2009, the Group was designated the ‘premier forum for international cooperation’ at a Leaders’ level. Infrastructure was recognised as one of the developmental pillars, finding a strong footing in the 2012 Los Cabos Summit, which emphasised a strong correlation between infrastructure investment, productivity and standard of living.

 

Since then, the topic has not only garnered much interest but also generated a substantial body of work for advancing the cause of infrastructure, especially around financing, investments and leveraging private sector participation. The year 2014 saw the establishment of institutional support for infrastructure through the Global Infrastructure Hub (GI-Hub) based out of Australia and the Global Infrastructure Facility (GIF) by World Bank.

 

In parallel, as the world moved towards recognising the importance of infrastructure, developments, such as the emphasis on PPP or Public Private Participation, were also captured by the Infrastructure Working Group (IWG) in G20.  It is now well recognised that despite significant public spending on infrastructure worldwide, further scaling up will require a concerted effort from different financing sources – the private sector, multilateral and bilateral and other international organisations. Financial Instruments should be well diversified, and the climate for private participation must be enabled.  This was also well captured in the successive Presidencies of Turkey, China and Germany. The necessity of recognising Infrastructure as a separate asset class was undertaken in the Argentinian Presidency of 2018.Since then, G20 has pushed for incorporating sustainability in infrastructure through different modes such as quality indicators, using technology for informed decision-making and scaling up private participation.

 

With the baton passed to Indian Presidency in 2022, the infrastructure agenda is seen through the lens of ‘Vasudhaiv Kutumbakam’ or one world, one future. India’s new contribution to IWG will be the flagship priority of ‘Financing Cities of Tomorrow’, which has never been addressed earlier exclusively in G20.

 

 

By 2050, nearly two-thirds of the world’s population will live in urban areas, so a wave of next-generation urbanisation will span across continents within developing and developed countries. This has the potential to ramp up global growth significantly due to the strong correlation between urbanisation and GDP. With over 80% of GDP generated in cities, urbanisation can be a bright spot if it is well-managed and sustainably oriented.

 

In the last few years, India has advanced the work in urban cities through the policy of saturation of provisioning of urban utilities, be it housing under Pradhan Mantri Awas Yojana (PMAY), sanitation (Swachh Bharat), drinking water (Har Ghar Jal), urban infrastructure reinvigoration (AMRUT), uptake of mass transit options such as metro-BRTS etc.,and technology-based city upgradation (Smart City) etc.

 

However, going forward, developing and developed countries must look to a future that any country in the world has not yet addressed. Given the Net Zero commitments by countries, the ravaging effects of climate on urban and fiscal resilience and the diverse pool of people who will inhabit future cities, cities of tomorrow must be made sustainable, resilient and inclusive.

 

As Pune gets ready to host the first IWG meeting under G20 India Presidency in the upcoming week this January, it is a good time to remind ourselves that to address the challenges of the future, cities must substantially take upon a new avatar – self-reliant, self-confident and financially empowered. Municipal governments must look to plan not only the strategy for cities but also find the resources to translate the visions into reality.

 

A complementary dialogue for municipal commissioners on urban governance in Pune University will accompany the first IWG meeting. Another event around the challenges and strategy of financing for cities of tomorrow will be hosted by ADB. The intended speakers are expected to share valuable insights on how countries can advance sustainable urban development while meeting the priorities of different segments of the population.

 

In the movement towards the ideal envisaged by this year’s Presidency, what is better than to bring the focus back to the oldest building blocks of the world – the imposing but humble, expansive but regional, connecting but distributed – Infrastructure?

 

 

(V. Anantha Nageswaran and Aparajita Tripathi are Chief Economic Advisor and Consultant, respectively, in the Ministry of Finance, Government of India. Their views are personal)

Expansion of Tourism Industry as a Global Favourite
Internet and Social Media: For progress or destruction
Progressive policies and private investment fuel sports-driven economic growth
Pradhan Mantri Kisan Samriddhi Kendra (PMKSK): Empowering Indian Agriculture
From Ration to Nutrition: Re-orienting Fair Price Shops for Nutrition Security

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article New era of industrial growth in Jammu and Kashmir
Next Article Violence against women and Gender inequality
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Hyderpora underpass turns into cab stand, sparks safety concerns
City
May 26, 2025
Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
Kashmir
May 26, 2025
SACPPE holds session to safeguard children from unexploded shells in Uri
Kashmir
May 26, 2025
‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
Jammu
May 26, 2025

Recent Posts

  • Hyderpora underpass turns into cab stand, sparks safety concerns
  • Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
  • SACPPE holds session to safeguard children from unexploded shells in Uri
  • ‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
  • Admin spreads awareness on drug abuse in Sgr

Recent Comments

  1. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  2. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  3. dr gora on Women Veterinarians and the Goal of Viksit Bharat
  4. jalwa game login on National Education Policy 2020: Transforming India’s Educational System
  5. Virender Bhat on Pahalgam Attack: A War on Humanity, Peace, and Kashmiriyat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?