New Delhi, 22 Sep 2025
At the ET NOW Infra Focus Summit 2025, Vijay Agrawal, MD & Sector Lead - Infrastructure, Equirus, joined an insightful panel on “India’s Highways to 2047: Building the Roadmap through Innovation, Speed, and Sustainability” - sharing insights on building India’s highways of the future for a resilient, next-generation infrastructure ecosystem.
Key takeaways from his discussion:
• Indian highways have attracted significant FDI, with the current Road InVIT AUM exceeding ₹2 lakh crore.
• Domestic capital is actively seeking opportunities, with committed capital in Domestic AIFs exceeding ₹15 lakh crore, part of which can be attracted for highway building.
• Retail investors remain cautious of under-construction risk. Authorities can devise a balanced mechanism for divesting completed assets into Retail InVITs.
• BOT concession agreements must address competing road risks and right-of-way risks. A balanced contract structure could help attract stronger private investment. Developers can collaborate with PE funds to participate more effectively in BOT bids.
• Going forward, it is estimated that NHAI will allocate projects in an approximate 1/3 ratio across EPC, HAM, and BOT models, ensuring balanced execution.
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