has assumed the Chairmanship of BRICS for the year 2016 and a major political
cum business engagement will be held in October 2016. As a lead-up to this
Summit, India has initiated a number of events within the spirit of the BRICS,
one of which being the Seminar on ‘Best Practices in PPPs and Long-term
Infrastructure Financing of BRICS Countries’ on 22nd September, 2016
in the national capital. The Union Minister of Finance and Corporate Affairs
Shri Arun Jaitley will inaugurate the Seminar.
Seminar is being organized by the Department of Economic Affairs, Ministry of
Finance, Government of India in collaboration with the Confederation of Indian
Session of the Seminar would be on’ Regulatory Issues and Financing of
Infrastructure’. Infrastructure development involves long gestation periods,
and faces many challenges including in regulatory matters. Emerging economies
are in the process of creating an effective regulatory framework across
Infrastructure Sectors. Considering the enormity of investment requirements
coupled with the public sector fiscal constraints, the private sector is
required to play a much greater role. Since, the issues impacting
infrastructure development are both financial and non-financial which need to
be addressed in totality, this Session looks at this from the point of view of
a cross section of stakeholders.
Second Session will be
on ’Innovative Investment Vehicles for Long Term Infrastructure Investment’. While public
infrastructure expenditure cannot be replaced or substituted in the provision
of public infrastructure, the scale of required financing cannot be met
through government budgets alone, given limited fiscal space. Leveraging of
such public finance by crowding in private investment is essential. Private
participation also draws in private sector managerial and execution skill in
implementation of projects. Apart from public private partnership (PPP)
structures, investment vehicles that attract long term investors while ensuring
all prudential safeguards are key to this. Given the critical role
infrastructure plays in overall economic growth, such vehicles should be
judiciously used to balance the prudential requirements of risk-averse
regulators and fund-trustees with the need to allow returns that attract long
term investors to this asset class.
Final Session will be on
‘PPP Project Delivery and Post Award Contract Management’. The use of PPPs as
an instrument of procurement for creation of infrastructure assets and delivery
of public services has been recognized globally. PPP contracts are often
complex where both parties are expected to manage the uncertainties and
complexities that arise over the long-term concession period of 15-30 years.
Managing changing contexts over the concession period, dealing with
uncertainties and effectively handling disputes are critical for the overall
success of the PPP projects.
issues and areas of concern will be debated and deliberated in three different
Technical Sessions during the Seminar, viz.
Regulatory Issues and Financing of Infrastructure
Innovative Investment Vehicles for Long Term Infrastructure
Project Delivery and Post Award Contract management
of this Seminar could go a long way in better understanding and optimally
utilizing the Best Practices in PPPs and Long-term Infrastructure Financing
involving BRICS member States.
The Seminar will be attended among
others by Mr. Shaktikanta Das, Secretary, Department of Economic Affairs,
Ministry of Finance, Mr Ajay Tyagi, Additional
Secretary (Investments), Department of Economic Affairs, Mr Raghav Chandra, Chairman,
National Highways Authority of India, Government of India.Mr Diogenes E C
Alvares, Head of Business Structuring Unit, Empresa de Planejamento e
Logística, Brazil, Mr Marc Partridge, Managing Director, GAZPROM Bank, Russia, Mr
Suvek Nambiar, Managing Director and CEO, India Infradebt Limited, Ms Elena
Stratyeva, Director, Russian Microfinance Center& Vice-president for
Infrastructure Development, National Association of Microfinance Market
Stakeholders, Russia, Ms Navita Yadav, Managing Director and CEO, Vistra ITCL (India)
Ltd, Mr Richard Lowe, Managing
Director, Macquarie Infrastructure & Real Estate Assets, India Mr William
Dachs, Chief Operating Officer, Gautrain Management Agency, South Africa and
Mr. Shiva Rajaraman, Chief Executive, L&T Infra Debt Fund.