Bharatmala a big play for investors, but goal ambitious - ICRA

The Cabinet has approved the Bharatmala Pariyojana Phase-I, along with other programmes in October 2017 involving around 83,000 km, including Bharatmala's 24,800 km of national highway development by 2021-22.

"The Bharatmala programme has the potential to change the entire landscape, if implemented as per the plan... The new approach is unlike the project-based approach adopted in the past (different stretches in different geographies), which led to inconsistent infrastructure development across corridors," Icra said in a statement.

There are ample opportunities for investors in the government's ambitious Bharatmala project and its success critically hinges on timely land acquisition and adequate funding, the rating agency said.