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As part of recent developments in the socio-economic sphere, India showcased its PM Gatishakti National Master Plan at the 2023 Regional Cooperation and Integration (RCI) Conference. This event, organised by the Asian Development Bank (ADB), took place in Tbilisi, Georgia. The ADB is a regional development bank, established in 1966, aimed at stimulating social and economic progress across Asia and the Pacific.
About the Asian Development Bank (ADB)
The ADB is a regional growth bank launched in 1966 to bolster socio-economic growth in Asia and the Pacific region. It comprises 68 members, of which 49 are from within the Asia-Pacific hemisphere and 19 are from outside. India is one of the founding members.
ADB supports its members and allies by offering loans, technical aid, grants, and equity investments to further social and economic progression. As of December 31, 2022, Japan and the US were each the largest shareholders owning 15.6% of total shares. They were closely followed by China (6.4%), India (6.3%), and Australia (5.8%). The main office of ADB is situated in Manila, Philippines.
The ADB Conference in Detail
The theme of the 2023 Conference was “Strengthening Regional Cooperation and Integration through Economic Corridor Development (ECD)”. Its objective centred around discovering methods to amalgamate spatial transformation or area-centric approach with ECD, thereby fortifying regional collaboration through a broader strategy.
This conference featured knowledge-sharing sessions regarding the application of the ECD framework and operational guidelines for suitable projects. Furthermore, it saw active participation from more than 30 member nations.
India’s role during the event was noteworthy. Offering its indigenously developed GIS-based technology through knowledge-sharing, India aimed to improve socio-economic planning and regional collaboration with ADB and South Asia Subregional Economic Cooperation (SASEC) countries.
PM Gatishakti National Master Plan: A Brief Overview
PM GatiShakti National Master Plan signifies a unique ‘Made in India’ initiative, combining integrated planning of multimodal infrastructure connectivity to economic nodes and social infrastructure. Launched in October 2021, it aims to enhance logistics efficiency.
The PM Gati Shakti scheme assimilated the Rs. 110 lakh crore National Infrastructure Pipeline, introduced in 2019. The National Master Plan relies on Geographic Information System (GIS) data-based digital platform, inclusive of over 1400 data layers and more than 50 tools.
The initiative seeks to provide a visual depiction of trunk and utility infrastructure, land use, existing structures, soil quality, habitation, tourism sites, and forest-sensitive areas. It is also executed to boost connectivity with regional partners.
Indian Government’s Initiatives for Logistics Sector
To further enhance the logistics sector, the Indian government has initiated several strategies such as the National Logistics Policy (NLP), Multimodal Transportation of Goods Act, 1993, and Multimodal Logistics Parks. Other projects include LEADS Report, Dedicated Freight Corridor, Sagarmala Projects, Bharatmala Project, and digital initiatives like Unified Logistics Interface Platform (ULIP), and Logistics Data Bank (LDB).
The Gati-Shakti Yojana: An Examination
The Gati-Shakti Yojana requires precise coordination between the government and private sector to attain the aim of connectivity. This plan incorporates meticulous planning and synergized efforts to offer seamless connectivity to sectors such as road, railways, ports, airports, and waterways. This will provide an impetus to India’s mission to become a $5 trillion economy by enhancing productivity, fostering manufacturing, and ensuring job creation.
Last Modified: February 22, 2024