Building Blocks to a Successful Public-Private Partnership

Abstract

A Public-Private Partnership is a long-term contractual agreement between a government agency and a private partner for the delivery of goods or services. Public-Private Partnership is a mutually beneficial relationships between the public and private sectors, which are an effective way to bridge gaps between demand and resources, quality and accessibility, and risk and benefit. Public-private partnerships can take various forms and include both collaborative (non-legal binding) or contractual (legally binding) agreements. A successful partnership between the public and private sectors depends on all of the people involved with the project. Problematic public-private partnerships usually result from non-technical challenges that arise in the working relationship. This paper explains the modes of PPP and strategies required for successful public-private partnership in India.