No investments from China in Indian highway projects: Nitin Gadkari
ROADS & HIGHWAYS

No investments from China in Indian highway projects: Nitin Gadkari

Minister of Road Transport and Highways Nitin Gadkari told the media that Chinese companies have not made investments recently in highway projects in India.

In July 2020, amid the border standoff with China, Gadkari said that India would not allow Chinese companies to compete in India's highway projects, including those through joint ventures (JV).

India would have to expand its exports and decrease its imports, said Nitin Gadkari, Minister of Road Transport and Highways.

On US-based electric car major Tesla's demand of reduction in import duties on electric vehicles (EVs) in India, Gadkari said that the decision on providing any tax concession to Tesla will be taken by the finance ministry.

The US companies in a letter to the road ministry said that the effective import tariff of 110% on vehicles with a customs value over $40,000 is conditional to zero-emission vehicles.

US firms have urged the government to standardise the tariff to 40% on electric cars irrespective of the customs value and withdraw the social welfare surcharge of 10% on electric cars.

The government is seeing prospects regarding green hydrogen as a potential transport fuel, Gadkari said.

He said that India would have to increase its exports and reduce imports, to make India of the future.

Image Source

Also read: Bengaluru-Ennore expressway tendering process enters final lap

Minister of Road Transport and Highways Nitin Gadkari told the media that Chinese companies have not made investments recently in highway projects in India. In July 2020, amid the border standoff with China, Gadkari said that India would not allow Chinese companies to compete in India's highway projects, including those through joint ventures (JV). India would have to expand its exports and decrease its imports, said Nitin Gadkari, Minister of Road Transport and Highways. On US-based electric car major Tesla's demand of reduction in import duties on electric vehicles (EVs) in India, Gadkari said that the decision on providing any tax concession to Tesla will be taken by the finance ministry. The US companies in a letter to the road ministry said that the effective import tariff of 110% on vehicles with a customs value over $40,000 is conditional to zero-emission vehicles. US firms have urged the government to standardise the tariff to 40% on electric cars irrespective of the customs value and withdraw the social welfare surcharge of 10% on electric cars. The government is seeing prospects regarding green hydrogen as a potential transport fuel, Gadkari said. He said that India would have to increase its exports and reduce imports, to make India of the future. Image SourceAlso read: Bengaluru-Ennore expressway tendering process enters final lap

Next Story
Infrastructure Urban

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Next Story
Infrastructure Transport

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Next Story
Infrastructure Transport

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement