India seeks China’s help in building infrastructure

India seeks China’s help in building infrastructureIndia is looking forward to build partnerships with China for building its infrastructure. It is seeking help for the road and high-speed rail projects, said the Minister for Road Transport and Highways, Kamal Nath, on Monday.

He said that India would like to foster such partnerships and there is a good opportunity lying unused in this sector. Kamal Nath was speaking to the press during a conference organized by Credit Suisse in Hong Kong.

As per estimates, India needs a huge investment and expects the foreign investors to inject most of the amount. In July, Kamal Nath had said that he wants more and more private equity firms and pension funds to come and give funds.

The road sector alone needs $70 billion in the next three years' time and as per estimates $20 billion will come from the pockets of foreign investors.

But even with this kind of demand, it would not be feasible to build partnerships with China as both the countries share sensitive relationship.

India currently is running the biggest PPP in the road sector and aims to build 15,000 kms of roads and highways in next three years.