Theres no scarcity of funds for infrastructure development in India, and the governments target is to increase the length of nationwide highways (NHs) to 2 lakh km by 2025, Union road transport and highways minister Nitin Gadkari said at the ET Global Business Summit on Saturday.
Projects in India have financial viability.
For the success of any job, we need proven technology, economic practicality, availability of basic materials and marketability.
All these are offered in India, Gadkari said.
I can even use up tasks with investment up to Rs 8 lakh crore-10 lakh crore, and to raise funds I can go to the capital market.
Individuals are waiting to buy our projects as these are practical, he added.ET Global Business Summit: A first-rate infrastructure is the method to attain a $5 trillion economy, states Nitin GadkariHe pointed out that high quality infrastructure is essential to bring in investment and pressing commercial growth to eliminate hardship.
Gadkari said the governments focus is on greenfield expressways and highways to slash the cost of logistics from 18% of GDP at present to 9%, to make Indian products worldwide competitive.
He stated the federal government has taken up construction of 10,000 km of greenfield expressways and economic corridors with a financial investment of Rs 7 lakh crore.Trusting individuals is our mantra: PM Narendra Modi at ET Global Business SummitHe likewise discussed the ropeway jobs his ministry has used up and added that a few of these can be services for extremely overloaded stretches in urban locations.
A proposal for ropeway connection between Dhaula Kuan in Delhi and Manesar in Haryana is likewise under consideration, he revealed.
On the highway advancement programme, Gadkari said the first stage of Bharatmala with a revised price quote of Rs 11 lakh crore is advancing well and the proposition for its 2nd stage has actually been sent out to the Cabinet for approval.
He said his ministry is open to new road-making technologies to reduce the expense of building and construction without compromising on quality.WatchET Global Business Summit: Efforts to make Indian roads at par with United States, states Union Minister Nitin Gadkari