Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) has sought the intervention of the Cabinet Committee for Investments (CCI) to ensure speedy clearances for the pending projects and submitted details of 50 mega pending projects in various sectors.
With the commencement of the 12th Five-year Plan, the government and private sector have estimated that the country would require a staggering $1 trillion to satiate its infrastructure needs.
Estimates also suggest the private sector contribution would increase to nearly 47 per cent.
Miffed with the government’s intention and implementation speed, various trade bodies have maintained that delay and hurdles in clearances and land acquisition would give the advantage to other countries that are more than willing to play host to multi-billion investments in various sectors.
