Gatishakti scheme to make Indian products more competitive
The `100-lakh cr initiative will bring down logistics costs, enhance supply chain system; 100% FDI in road sector is a great opportunity for joint ventures: Gadkari
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New Delhi: Union Minister Nitin Gadkari on Thursday said that the Gatishakti scheme of Rs100 lakh crore will provide a framework for the National Infrastructure Pipeline (NIP) programme and will make Indian products more competitive by cutting down logistic costs and improving supply chains.
Addressing the American Chamber of Commerce's (AMCHAM) 29th AGM, Gadkari also sought investments in the road sector from insurance and pension funds of the US."Our Government is soon going to launch the national master plan, the Gatishakti scheme for holistic and integrated infrastructure development in India," he said.
The infrastructure scheme was announced by Prime Minister Narendra Modi during his Independence Day speech.According to the Gadkari, infrastructure development will play an important role in India's aim to become a $5 trillion economy.
He said that his ministry through NHAI is planning to raise $15 billion through the monetisation of highways in the next five years. Noting that India has got huge economic potential and viability available for pension and insurance funds in Indian road infrastructure, Gadkari said: "We can offer you good returns, and huge potential of economically viable projects."
The minister pointed out that India is allowing 100 per cent FDI in the road sector, and there is a huge opportunity for joint ventures. He also noted that the country is also ready to welcome investments in solar energy and green hydrogen."We are looking for prospects of green hydrogen as a potential source of energy. You can invest in technology for green hydrogen," he added.
He addedthat he is working for a more sustainable transport system like ropeways and hyperloops."Investment in mobility technology is welcome, I request you to participate financially on the technological front,India is seeking the use of innovative technology and materials in road construction and is open to adopting guidelines for use of new materials and technology," he further added.
