The Bengal Chamber of Commerce & Industry organised the “BCC&I Infrastructure e−Conclave” on 9th February 2022 on an exclusive online platform.

The efforts for Atma−Nirbhar Bharat, announcement of National Infrastructure Pipeline projects, Gati Shakti−National Master Plan, setting up a new Development Finance Institution will be significant in achieving the $5 trillion Indian economy. The National Infrastructure Pipeline has laid out a spend of Rs 102 trillion on projects over 2020−25, wherein, projects worth Rs

42.7 trillion are under implementation and worth Rs 32.7 trillion are in the conceptualization stage, while the rest are under development. In the coming years, reforms and policy framework, investor confidence, private participation will be critical to India’s growth aspirations. In this background, the Bengal Chamber organised the ‘Infrastructure e−Conclave’ to bring the relevant stakeholders from all over the country together at a single platform and brainstorm on the opportunities and challenges.

The theme of the Opening Session was “Indian Infrastructure: Fabricating Future”. The Opening Session was addressed by Guest of Honour, Mr. Arun Maheshwari, Joint Managing Director & CEO, JSW Infrastructure. Mr. Gautam Ray, Senior Vice President, BCC&I and Executive Director (HR & Admin.)

− CESC Limited & President (HR) − Power Group, RPSG delivered the Welcome Address and Mr. T V S Shenoy, Chairperson, Infrastructure Committee, BCC&I and Chief Commercial Officer (Long Products), Tata Steel Ltd. delivered the Opening Remarks. Mr. Abilin Mukherjee, Partner, E&Y and Member, Infrastructure Committee, BCC&I delivered the Vote of Thanks.

Guest of Honour, Mr. Arun Maheshwari, Joint Managing Director & CEO, JSW Infrastructure, in his address, mentioned that “port” is an evolving sector and the entry barriers are very high. It is high time that all the Maritime Boards should come together and look at the level playing field so that the growth of India is equal and equitable. He further said, that if we see the container volume across the globe, China dominates the container volume; however, India may jump to the second spot in the coming years. Mr. Maheshwari appreciated that the Government of West Bengal has come up with very good Terms of Reference for Tajpur Port. According to him it is exciting for the investors and that Bengal has shown how good a port opportunity could be.

Guest of Honour, Mr. P R Jaishankar, Managing Director, IIFCL said that majority of funds for infrastructure used to come from banks. Presently, banks have been replaced by non− banking finance companies and infrastructure financing companies. He said a change in mindset is needed to define standard assets as this will help in the long−term amortisation of funds deployed. According to him, what is required is the changes in financial regulation as infrastructure projects have long gestation periods. Another aspect is relay financing from one entity to another, which will also help to finance infrastructure projects in the country. Other problems, which are non−financial in nature, are land acquisition, providing concessions and contract issues. In all these aspects, reformative measures are needed, he said, adding that the Centre is pushing for development of infrastructure in the country.

Special Guest, Mr. Anuj Puri, Chairman and Founder, ANAROCK Property Consultants mentioned that residential space should be incentivised by the government to reduce carbon emission. Mr. Puri said 39% of carbon emission comes from real estate. A lot of green buildings are coming up in the office space area but the number is very low in residential areas. If we go by the data, 16% of the real estate industry in India is occupied by offices while 84% is residential. Incentives like additional floor area ratio or tax incentives can be given by the governments to promote green building in residential space.

Mr. Puri also stressed the need for bringing a policy for rental housing. He said that globally, PE (private equity) funds invest in rental housing and even in affordable residential space. The Opening Session was followed by a Panel Discussion on “Powering the India Growth Story: Role of Infrastructure towards a 5 Trillion Dollar Economy”; A Fireside Chat with Mr. Manish Chourasia , Managing Director, Tata Cleantech Capital on Energy Sector Transformation: The Next Decade of a New India”; Experts’ Roundtable on “Techinfra: Technology as an Enabler for Infrastructure Growth”; a Special Plenary Session on Urban Infra: “New Era of Living through Better Housing” and Experts’ Roundtable − “Financing Infrastructure: Impetus for a Growing India”.

The other eminent speakers, in the order of appearance, were Mr. Rahul Shah, COO−Urban Infrastructure, Tata Projects, Mr. Rupak Sarkar, Executive Vice President & COO, ITD Cementation, Mr. Manish Chourasia , Managing Director, Tata Cleantech Capital, Prof. Deepankar Choudhury, Prof. T. Kant Chair Professor and Head−Department of Civil Engineering, IIT Bombay, Mr. Satish Patil, Chief Digital Officer, Larsen & Toubro, Dr. Shailesh Kumar Agrawal, Executive Director, Building Materials and Technology Promotion Council and Mr. Sarosh K Amaria, Managing Director, Tata Capital Financial Services Limited.

The E−Conclave was moderated by Mr. T V S Shenoy, Chairperson, Infrastructure Committee, BCC&I and Chief Commercial Officer (Long Products), Mr. Jacob Chacko, CGM (Sales), SAIL and Member, Infrastructure Committee, BCC&I, Mr. Vineet Vijayavargia, Managing Director and Partner, Boston Consulting Group, Mr. Sambhav Malhotra, Associate Partner, McKinsey & Company and Mr. Arnab Chakraborty, Deputy Director, BCC&I.

The E−Conclave received viewership of more than two lakh online viewership on social media.