The book provides readers with a clear understanding of infrastructure challenges how
Public¿Private Partnerships (PPP) can help and their use in practice. Infrastructure
bottlenecks are generally considered the most important constraint to growth in many countries
worldwide. Historically infrastructure projects have been financed and implemented by the
state. However owing to the fiscal resource crunch time and cost over¿runs and the general
poor quality of publicly provided infrastructure many emerging market governments including
India have increasingly adopted PPPs with billions of dollars of investment riding on them.
The results have been varied ¿ from spectacular airports like the Delhi International Airport
Limited with the associated controversy over land use to the renegotiation of contracts as in
the case of Tata Mundra Ultra Mega Power Project. Illustrating concepts with relevant case
studies the book makes the challenges of PPPs understandable to industry and management
practitioners as well as students of management public policy and economics. It is useful to
practitioners wishing to avoid the pitfalls in the tricky terrain of PPPs and policymakers
wanting guidance in crafting proper incentives. It also helps students gain a holistic and
¿applied¿ understanding of this increasingly important and popular model.¿Public Private
Partnerships (PPPs) in India are currently under stress. A comprehensive treatment of the
subject by a long-time and erudite practitioner and a management academic this book should be
useful to students trying to learn the basics while also being valuable to professionals and
policy makers. The book suggests that the Government should hold bidders accountable to their
submitted bids thereby preserving sanctity of contract. This will discourage aggressive
bidding which has become a serious and endemic problem. The book also suggests the use of
better bidding criteria to mitigate traffic risk in transport projects. Policy makers should
pay heed to these suggestions as they consider improvements in the PPP policy regime going
forward.¿¿Arvind Subramanian Chief Economic Adviser India¿For a fast-growing India
infrastructure creation and operation is a great challenge and opportunity. This excellent book
combines theory and practice on PPPs and is very useful for professionals and students alike.
With case studies and current developments the authors bring out issues in India with global
experiences as well. A must-read for infrastructure practitioners.¿¿Shailesh Pathak Chief
Executive (Designate) L&T InfrastructureDevelopment Projects Limited ¿Indiäs program of
private participation in infrastructure attracted worldwide attention as it became one of the
largest programs in emerging markets. As well as the volumes of finance mobilized it garnered
interest because of some of the innovative approaches developed such as Viability Gap Funding.
The Indian PPP story is well captured in this book which also makes the point that India is
seeing project cancellations and failures rise. The authors analyze the factors behind this and
point the way to a more robust PPP market that learns from the experiences of the past.¿¿Clive
Harris Practice Manager Public-Private Partnerships World Bank
