NEW DELHI: India is seen as a bright spot for infrastructure investment amid rising protectionist measures around the world, said Bill Brummitt, Chief Operating Officer (COO) of the Global Infrastructure Hub, a platform launched by G20 countries to address global infrastructure deficit.
“I think it's very important that infrastructure markets don't get caught up in that protectionist mindset and we continue to see international capital flowing across borders, and not just capital, but also expertise,“ Brummitt said recently. “Viewed from Australia (where the group is based), India is still seen as a very promising market with a very large market, growing fast, and with a lot of opportunity,“ he added.
Brummitt was in India recently to hold talks with officials from the Ministries of Finance and Road Transport on the tools the group has developed as a knowledge-sharing platform.
Apart from their focus on PPPs and concession management, the group is also pushing for multilateral development banks like the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank to link private investment with public infrastructure projects.
“The more we can encourage the multilateral development banks to use their whole range of skills and resources and on the-ground presence that they have at their disposal, to help encourage and facilitate private finance rather than using their own capital, we think the better off the world would be,“ Brummitt added.