New Delhi: The Centre has chalked out a plan envisaging an investment of Rs 100 lakh crore in the infrastructure sector over the next five years, Union Minister Piyush Goyal said on Wednesday.
"The investment will transform availability and quality of infrastructure at airports, roads, highways, railways, ports... All infrastructure-related sectors (aviation, shipping, electricity, and oil & gas) are going to see a huge thrust in the next five years," Goyal said.
The railways and commerce & industry minister said that "Rs 100 lakh crore in the next five years is not a small amount". He said the railways has drawn up a 12-year plan entailing an investment of Rs 50 lakh crore.
"Rs 50 lakh crore in 12 years is an unheard of investment spree that the railways is planning. Obviously, the government cannot put in this kind of money so we will have to engage the private sector. We will have to work closely through the public-private partnership model," Goyal said at the India International Trade Fair here.
The minister said Prime Minister Narendra Modi's decision not to join the mega trade deal Regional Comprehensive Economic Partnership (RCEP) was a bold decision to stand up to and protect the rights and the interests of the Indian business community and ensure fair access.
"We cannot have a situation that India opens its markets to the world but we do not get an equal access, equal opportunity in the rest of the world. We have to engage with other countries to ensure non-tariff barriers do not stop our exports," Goyal said.
He was addressing an awards ceremony organised by the India Trade Promotion Organisation here.