G20 summit takes note of India's commitment to infra reforms

India's commitment to continue with its ambitious infrastructure programme including the Delhi-Mumbai Industrial Corridor and setting up of two new major ports has been taken note of by G20 at its just concluded St. Petersburg summit.
The commitment has been reflected in the St. Petersburg Action Plan as the Group of 20 industrialised and major developing countries decided to reset its structural reforms agenda along more relevant, concrete, and well-targeted lines.
Prime Minister Manmohan Singh was among the world leaders who attended the two-day summit which concluded on Friday in the Russian city of St. Petersburg.
All the member countries have outlined their commitments on structural reforms to promote investment in a bid to lift potential growth, create jobs and contribute to needed global rebalancing, the Action Plan said.

"India commits to continue with its ambitious infrastructural programme, including the Delhi-Mumbai Industrial Corridor connecting the national capital and the commercial capital with high speed rail and road links entailing nearly 100 billion USD in investment.
In addition, two new major ports will be established and a new outer harbour, will be developed in an existing port through PPP starting 2013-14," it noted.

Giving a push to infrastructure development, the Union government recently approved a proposal to set up two major ports in West Bengal and Andhra Pradesh at an investment of about Rs.15,820 crore. The move to set up new ports comes after several years.

The new port in West Bengal, which will have a capacity of 54 million tonnes per annum (mtpa), is expected to require an investment of around Rs.7,820 crore while the other new port in Andhra Pradesh, whose projected capacity is around 50 mtpa, is expected to entail an investment of about Rs.8,000 crore.
The new ports will be notified as major ports under the Indian Ports Act, 1908. Major ports come under the Central Government, while minor ports are operated by State governments as well as by the private sector.
The new major ports are likely to be set up on public-private partnership (PPP) mode, and will cater to increased imports of coal and oil besides boosting the local economy and generating jobs.