Public-Private Partnership Experience in India: Challenges and Prospects

India has caught a significant attention of World economies for its robust economic growth in the beginning of twenty first century. However, the sustaining of higher economic growth requires substantial investment in infrastructure. On this front, country has been struggling hard to develop the infrastructure. The government is looking towards budgetary allocation, tariff policy, fiscal incentives, private sector participation, etc. In this direction the role of PPP model is well acknowledged. The present study is an addition to the exiting economic literature for bringing the experiences of Indian PPP projects in terms of their distribution across sectors, states and status, key challenges and future prospects, under an umbrella. Indian PPP agreements are in a nascent stage, and it is not possible to give exclusively concluding statement regarding PPPs successful. However, the case studies of few projects suggest that PPP projects in India have attended the growing demand for infrastructure facilities, managed higher losses of fuels and pollution and controlled the losses to electricity transmission. The successfulness of Indian PPP model is limited due to land acquisition, delays in clearances, lack of effective regulation, etc. The legal journey of India for ensuring the effective delivery of PPP projects is a remarkable step to realize the growth potentials and other welfare gains.