#BQOpinion: Infravisioning With Vinayak Chatterjee

The Infravision Foundation's Vinayak Chatterjee on why public procurement policy needs to cover more ground. #BQOpinion

--------------------------------------------------------------------------------------------------------------------

For the latest business news and analysis

Follow BQ Prime here

[rajinvests]

Great to hear from an expert like Mr. Chatterjee on one of the most important sectors for India. BQ Prime is already my favorite source of financial news because of its quality content, this new initiative has only increased the value BQ Prime brings to its audience. Thanks. I have always maintained BQ Prime should be the No. 1 Financial Channel in India, its way ahead in terms of quality when compared to its more famous competitors like ET

[joshua_ch]

I think it will be truly historic if all the states or atleast all the bigger ones bring in similar changes to procurement policy.

[sarojkumarmallick]

Excellent discussion: Yes, there should be change in contracting risks: they should be balanced as is done in FIDIC or NEC contracts. In case of NEC contract, research points to the fact that arbitration reduced below 1%. I propose contracting should be changed to in its entirety if construction speed needs to be increased and with a smaller number of arbitrations. Smaller notifications are okay; however, an overhauling of contracting system is the need of the hour.