India Needs World-Class Infrastructure To Realise USD 5 Tn Economy Goal: Gadkari

(MENAFN- KNN India) New Delhi, Aug 25 (KNN) Speaking at the ET World Leaders Forum on Friday, Union Minister for Road Transport and Highways Nitin Gadkari emphasised that the government is prioritising four critical sectors-water, power, transport, and communication-to achieve the USD 5 trillion economy goal.

Gadkari said the focus is on upgrading infrastructure to global standards in an environmentally sustainable and cost-effective manner.

“The strategy going forward is to develop multiple access-controlled green highways, ropeways and tunnels across the length and breadth of the country for better and faster connectivity between cities,” he said, adding that such projects would help reduce logistics costs and improve the competitiveness of Indian products.

Citing a study by IIM Bangalore, IIT Madras, and IIT Kanpur, Gadkari noted that India's logistics cost has already declined to 10 percent of GDP from 16 percent, largely due to the construction of high-quality roads.

This compares with 8 percent in China and about 12 percent in the US and Europe.

He expressed confidence that logistics costs would fall further to single digits-around 9 percent-by the end of December, which he said would deliver significant benefits to the economy.

Gadkari outlined initiatives to expand clean and affordable public transport.

He announced that the first tender for flash-charging buses has been awarded to Tata Motors, with a pilot project in Nagpur.

“The cost of travel will be 30 percent lower compared with diesel, while facilities will be at par with air travel,” he said.

The ministry is also exploring proposals, including hyperloop, for a mass rapid transit system between Delhi's Dhaula Kuan and Gurgaon to ease congestion.

Expressing concern over India's Rs 22 lakh crore fossil fuel import bill, Gadkari said the government is promoting hydrogen, biofuels, alternative fuels, and flex engines to cut dependence on imports.

“With hydrogen and other biofuels, we aim to become an energy-exporting nation,” he said, acknowledging that challenges remain in building hydrogen infrastructure.

On the automobile industry, Gadkari projected that India, currently the world's third-largest market with a size of Rs 22 lakh crore, could become the largest within five years.

“From electric engines to flex engines, research is under way on all green fuel options. The growth of the automobile sector will be a major driver of employment, government revenue and exports,” he said.

The minister also highlighted steps to align infrastructure development with environmental goals. The ministry is using bamboo crash barriers, recycling over 80 lakh tonnes of municipal waste in road construction, and mandating pre-cast technology to promote eco-friendly construction.

“Development remains our top priority, but it must rest on the pillars of ethics, economy, ecology and environment,” Gadkari concluded.

(KNN Bureau)

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