At a CII conference in Delhi D Thara urged India Inc. to take up infrastructure building in cities in partnership with municipal corporations to create the new urban India story. “There is a disconnect between India’s economic ambitions and the capacities of its urban local bodies, The private sector proactive engagement in the urban development of the country. becomes even more important, as urban India is set to see an estimated 70 million new urban residents in the next two decades by 2045. This poses challenges as well as opportunities, as the country will see the creation of many more cities calling for a pragmatic, revitalization-first approach to urban development.”
She underlined the need for targeted interventions to upgrade existing cities, backed by significant investment. The proposed Urban Challenge Fund, she explained, is intended to catalyze this transformation with a mix of 25% public sector seed funding, 50% market capital, and 25% state contribution. “It’s not about building afresh,” she said, “it’s about fixing what already exists—legacy infrastructure, greenfield areas, and urban governance systems.”
“Ward-level accountability is key,” said Thara as she pointed to the need for institutional support to empower smaller municipalities to tap funds such as those managed by NIIF.
