Transport Sector in India: Recent Developments

The Indian economy has become the third largest in the world with a GDP of US $3.611 trillion (measured in PPP). India is also the second fastest growing major economy in the world, with a GDP growth rate of 9.2% (second quarter for the current fiscal year 2006–2007). But the wheels on which the economic engine has to move, India s transport sector-especially surface transport-has serious deficiencies; its services are, by international standards, highly inefficient. With the sector being so central to the effective operation of the economy, poor transport has become a major drag to economic growth. While some of the sub sectors such as road transport have grown at a faster pace, others lag behind within the transport sector itself. The Indian government, in recent times, has been giving high importance to the development of the transport infrastructure and services in the country. Several projects have been going on at a brisk pace, especially in the road transport sector and financing tie-ups are also being achieved for many of the pending projects. These efforts made by the government are in the right direction. A continuation of the efforts at a faster pace will see transportation bottlenecks being removed and a faster progress achieved by the Indian economy. In this context of high profile economic growth and the high demand for transportation and logistics, this book "Transport Sector in India – Recent Developments" makes a comprehensive assessment of the current scenario of India’s transportation sector and analyzes the important developments that propel the country’s transport infrastructure towards international standards.