De-risking projects most critical step, says road transport and highways secretary

De-risking a project is conceptually the most critical step in project creation, road, transport and highways secretary Anurag Jain said on Thursday.

Speaking at an event organised by industry body Assocham, Jain highlighted the need for effective risk sharing to prevent unnecessary cost escalation.

He noted that de-risking projects requires attention to detail and concerted efforts to ensure transparent risk allocation.

''The true challenge lies in proper risk sharing, as failure to do so can lead to higher costs,'' Jain said.

Highlighting the government's commitment to infrastructure development, the secretary mentioned the significant increase in allocation to the sector over the past four years.

Jain also highlighted the issue of dependence on external experts in project contracts, particularly in the context of tunnelling projects.

He also stated that sustainability is a pressing global issue, and India has taken significant steps to address it.

Jain said that the Open Network for Digital Commerce (ONDC) is expected to be a game changer and has already reached an advanced stage of development.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)