Govt seeks investment from US investors for road and highway projects

On Tuesday, Nitin Gadkari, Minister of Road Transport and Highways, terming the road and highway projects in India a gold mine, asked US investors to invest in the sector. The Minister of Road Transport and Highways told the media that India is expanding industrial clusters, roadside amenities, and thus the income from the sector would also grow. While addressing Indo US Economic Summit, Gadkari said that he sincerely hopes more and more investors from the US would come and invest in the road and highways projects in India which is the gold mine for all the shareholders. He requested primarily for insurance, pension funds. They have a tremendous investment opportunity in road infrastructure in India. The toll revenue, which is Rs 40,000 crore per year, is likely to surge to Rs 1.4 lakh crore yearly in the coming three years, the Minister said. The bilateral trade between India and the US is predicted to touch more than $500 billion by 2025, Gadkari said, adding that both countries have a vital role to play in the post-Covid economic recovery. He said that there should be an informed discussion on this subject at different levels as the recovery requires ideas and plans. In the post-Covid situation, a revival of economic activity is very significant to normalise people's lives, he said. Additionally, he said that India and the US have always shown mutual trust, respect and cooperation on the social, economic and strategic front. Image Source Also read: India inks $300 mn pact with ADB to boost rural economy in Maharashtra