Senior representatives of leading Indian and international financial institutions (FIs), private infrastructure sponsors and operators and Indian officials are expected to hammer out a strategy with the world bank to hasten private infrastructure growth.

"The objective of the conference is to bring the consultations to a higher level and provide a forum for an exchange of views on India as a country for private investment in infrastructure," a world bank spokesman said here.

The two-day meeting, to be held under the World Bank's aegis, is expected to provide an opportunity to review the progress India has made in attracting private capital.

According to the WorldBank expert group on commercialisation of infrastructure projects, India would have to invest $115-130 billion between fiscal 1996-2001, and 215 billion dollars in the succeeding five years.

Noting the progress on private infrastructure has been "slow relative to India's substantial needs, the bank is of the view that even if the growth rates are lower than the expert group's projections, investment requirements are much higher than the current levels".

The bank has conducted a thorough review of India's policies and practices towards private investment in infrastructure and held consultations with various government and private sector representatives in India.

Legal and regulatory reforms to increase secondary market trading in debt, mezzanine finance and related government regulations' potential and the role of multilateral development agencies in mobilising private resources for infrastructure funding will be the main issues to be discussed. Over 150 participants, including representatives fromforeign companies have confirmed their participation at the two-day meeting.

Another working session will focus on issues including transparency, level of competition, quality of bidding etc.