Nitin Gadkari calls for US investments in roads and highways

Union Minister for Road Transport and Highways, Nitin Gadkari has called for investors from the US to come forward and invest in road and highway projects in India. At the 19th Indo-US Economic Summit of The Indo-American Chamber of Commerce, he said that the United States of America and India are prominent democracies of the World with strong bilateral relations. Both countries have always shown mutual trust, respect and cooperation on the social, economic and strategic front. The theme chosen this year- “The New Agenda for next 25 years”, will set the roadmap for strengthening our relationship, he added. Gadkari emphasised that road infrastructure plays a critical role in the growth of the Indian economy as 70 per cent of goods and nearly 90 per cent of passenger traffic uses the road network to commute. At present, this Network has reached around 1.47 lakh Km. The government is dedicatedly working towards expanding the National Highway network to 2 lakh km by 2025, he added. The Minister said that the country is bringing innovative and investor-friendly frameworks like InvIT to allow retail investors to participate in the funding drive so that retail investors can get good Annual Returns which are more than the Fixed Deposit rates. Also Read Gadkari seeks railway connectivity to JNPT to reduce container traffic NHAI to bear 80% land acquisition cost of Pune’s ring road