The Modi government’s Gatishakti scheme, worth Rs 100 lakh crore will provide a framework for the National Infrastructure Pipeline programme as well as make Indian products more competitive by reducing logistic costs and improving supply chains, Union Minister Nitin Gadkari said on Thursday. While addressing the AMCHAM’s 29th AGM, the minister said that the government is soon going to launch the national master plan of Gatishakti scheme, which was announced by PM Narendra Modi during his speech on Independence Day. The initiative, according to a PTI report, is set to be launched this month.
According to the Road Transport and Highways Minister, development of infrastructure will play a crucial role in the nation’s aim to become an economy of USD 5 trillion. The supply chain infrastructure of India is getting momentum. Through NIP, the government is investing USD 1.4 trillion in infra development, Gadkari said. The Union Minister also said that through National Highways Authority of India (NHAI), his ministry is planning to raise USD 15 billion through the highways’ monetisation in the next five years. Considering that there is huge economic potential in India and also there is viability available for pension and insurance funds in Indian road infrastructure, the minister said that they can offer good returns, (and) huge potential of projects that are economically viable.
According to Gadkari, India is allowing 100% FDI in the road sector, and for joint ventures, there is a huge opportunity. He also noted that the country is ready to welcome investments in solar energy as well as green hydrogen. The minister claimed to be working for a more sustainable transport system such as ropeways and hyperloops. India is seeking the utilization of innovative technology and materials in construction of roads, and is open to adopting guidelines for use of new materials as well as technology, Gadkari added.