Concession

Meaning

In infrastructure and law: a right granted by a government to a private entity to operate a public asset for a fixed period; also, a point yielded in negotiation

Origin / Etymology

Latin concessio, granting (concedere = to yield or grant)

Synonyms

Licence Franchise Grant Yielding (in negotiation)

Antonyms

Revocation Nationalisation Refusal

Example Sentence

"APSEZ (Adani Ports) was awarded a 30-year concession to design, build, finance, and operate the Haldia Bulk Terminal under the DBFOT model."

🎯 UPSC Usage

Two distinct meanings to master: 1) PPP/infrastructure, a concession agreement specifies terms of a private operator's right to use/operate a public asset (Haldia Bulk Terminal, airports, highways); 2) Diplomatic, a concession made in negotiations (trade, territorial). In GS-3 infrastructure answers, always name the concession period and model. In GS-2 IR answers, 'making concessions' signals knowledge of diplomatic negotiation.

Relevant Subjects