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Indian MOF Conference sets objectives for new future-ready infrastructure

Indian MOF Conference sets objectives for new future-ready infrastructure

The recently concluded 4th Regional
Conference
on ‘Futuristic, Resilient and Digital Infrastructure’ in
Bengaluru identified the need for Indian infrastructure development to prepare
the nation to capitalise on the opportunities that digital technologies and the
4th Industrial Revolution has to offer.

The conference identified three key
objectives in achieving sustainable infrastructure development — integration in urban planning and transportation, inclusion, and
building for resilience in design and operations.

Organised by the Indian Ministry of Finance
in collaboration with the Confederation of Indian Industry (CII), and Research
and Information System for Developing Countries (RIS), the two-day conference
is a lead-up to the 3rd Annual Meeting of the Asian Infrastructure Investment
Bank (AIIB) in June 2018. Featuring delegates and experts from partner institutions,
academia, civil society organisations, and industry, they shared their views on
the opportunities and challenges a digitally enabled India could face in coming
years.

In planning for new nation-wide
developments, experts pointed out the rigorous new demands that new
infrastructure will be expected to contend with in coming years.

The
Role of New Infrastructure

One of the most pressing requirements of
new infrastructure is the imminent need to alleviate congestion in the rapidly
developing cities and towns in the Indian subcontinent. It has become
imperative, particularly in recent decades, to leverage futuristic smart
technologies, emerging digital technologies, satellite-based services, intelligent
traffic and city management to promote further growth in these areas and
achieve decongestion.

To maintain such growth and support flourishing
cities, resilience of infrastructure has also become essential,
especially in disaster prone areas. The conference stressed
the need for new infrastructure and methodologies in planning for and dealing
with these disasters — like
purpose-designed hospitals, the creation of utility maps, and early warning
systems that use digital technologies to predict storms, tsunamis, cyclones, and
heat stress. It was also suggested that community level partnerships and
initiatives would be important to promote integration at the ground level.

Integrating the vast and sometimes even
remote areas of the country, a recurring theme during the conference, was
identified as another key objective that new infrastructure will be required to
address. Experts suggested that robust masterplans for city expansion that consider
the cultural and anthropological characteristics of the geography will be crucial
to ensure inclusive development and minimise exclusions across India’s diverse
topology. Once again, the conference reiterated the role of digital
technologies in fostering these connections.

New methodologies in urbanisation will be
vital in ensuring the smooth transition into modernisation and expansion of
tier-2 and below cities. Sustainability will also need to be considered in
planning and erecting new urban landscapes and mobility solutions to fulfil
current demands and to be poised to accommodate for future ones.

While the conference unanimously recognised
the need for new digital infrastructure to pave India’s way forward in the tech
focused economy and society, they also made special note of the pitfalls such a
task would pose.

Challenges
of a tech-enabled infrastructure

Financing the gargantuan task of
futureproofing the infrastructure of the world’s seventh largest country poses
the most significant hurdle. The conference suggested that in addition to the
use of the existing private-public partnership funding models, the futuristic
Infrastructure may also be funded through land value capture. Allowing land value to first increase then leveraging it for revenue
apart from using pooled savings in the form of insurance and pension funds could
offer a solution to the financing hurdle.

On the flipside, the conference also
contended that the paradigms of infrastructure financing are also changing
globally. Increasingly, infrastructure for competitiveness is being championed
by multilateral banks like the Asian Development Bank.  

In addition, other challenges such as
security, privacy, the future of work, market failure of futuristic
innovations, and the concern over the rural-urban gap were also discussed.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com