“By 2029, India aims to lead the world in car manufacturing and become the third-largest economy,” stated Nitin Gadkari, the Minister of Road Transport and Highways, on Friday.
Gadkari emphasized that the government’s priority is to develop top-notch roads, shift to alternative fuels, and reduce logistics expenses.
He highlighted the importance of solid infrastructure, water, power, transportation, and communication for capital investment, industry growth, and overall development, including agriculture, services, and tourism.
Referring to the auto industry’s potential, Gadkari mentioned, “We have all types of products and major players established in our country.
The auto sector will significantly boost the Indian economy, leading us towards self-reliance (‘Atmanirbhar Bharat’), and positioning us as the world’s third-largest economy within the next five years.”
He stated that Prime Minister Narendra Modi gave top importance to developing infrastructure in the country after taking office in 2014.
“To realize PM Modi’s vision of making India the third-largest economy globally, we must establish world-class infrastructure,” Gadkari remarked. He also mentioned that by the end of 2024, India’s national highway network will match that of the USA. Gadkari emphasized his efforts to enhance the quality of Indian roads and promote the adoption of alternative fuels to reduce logistics costs to single digits.
Describing his infrastructure development plan, Gadkari mentioned that his ministry is constructing 36 expressways.
These expressways will significantly reduce travel time: Delhi to Dehradun in two hours, Delhi to Jaipur in two hours, Delhi to Mumbai in 12 hours, Chennai to Bangalore in two hours, and Bangalore to Mysore in one hour.
Additionally, the distance between Delhi and Chennai will be shortened by 320 kilometres.
Gadkari highlighted that he doesn’t rely solely on government funding for his infrastructure projects.
Instead, he offers a guaranteed annual return of 8.05% to small investors who purchase bonds. He ensures that the interest is credited to their accounts monthly.
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Gadkari emphasized that the National Highways Authority of India holds a AAA rating and has abundant funds available.
He referenced, “The street area’s advancement so far is only the start.The real action is yet to come.”
Gadkari outlined India’s plan to shift to alternative fuels to reduce the import of fossil fuels, which currently costs ₹16 lakh crore annuallyHe made sense of, “Our procedure is clear: we mean to move agrarian assets towards energy creation. This way, our farmers will not only be food providers (‘anna daata’) but also energy providers (‘urja daata’), providers of bitumen, and suppliers of sustainable aviation fuel (‘hawaii indhan daata’).”
Gadkari mentioned a project in Panipat with Indian Oil Corporation where they convert rice straw into 100,000 liters of ethanol, 150 tonnes of bio-bitumen daily, and 76,000 tonnes of bio-aviation fuel yearly.
“By exchanging fills and further developing streets, I accept that toward the finish of 2024, our strategic costs will drop to single digits (around 9%).). This will boost exports by at least one and a half times, which is crucial,” he stated.
Gadkari highlighted the importance of reducing logistic costs, citing that in China, it’s 8-10%, while in European countries and the USA, it’s 12%. In India, however, it rises to 16%.
He expressed confidence in the development achieved during the 10 years of the Modi government, stating that the NDA alliance focuses on progress and development.
He anticipated securing a majority in the 2024 general elections, scheduled for April-May, under Prime Minister Narendra Modi’s leadership. Gadkari emphasized that voters prioritize good work over caste, creed, gender, religion, or language.
What is India’s goal for 2029 according to Nitin Gadkari?
- India aims to lead the world in car manufacturing and become the third-largest economy..
What are the government’s top priorities, as emphasized by Gadkari?
- Developing top-notch roads, shifting to alternative fuels, and reducing logistics expenses.
Why is solid infrastructure important, according to Gadkari?
- Solid infrastructure is crucial for capital investment, industry growth, and overall development in areas like agriculture, services, and tourism.
How does Gadkari view the potential of the auto industry in India?
- Gadkari sees the auto sector as a significant boost to the Indian economy, leading towards self-reliance and positioning India as the world’s third-largest economy.
What importance does Gadkari attribute to infrastructure development under PM Modi?
- Gadkari highlights PM Modi’s emphasis on developing infrastructure since taking office in 2014.
What is Gadkari’s strategy to reduce logistics costs in India?
- Gadkari aims to enhance the quality of Indian roads and promote the adoption of alternative fuels to reduce logistics costs to single digits.
How many expressways is Gadkari’s ministry constructing, and what benefits are expected?
- Gadkari’s ministry is constructing 36 expressways, which are expected to significantly reduce travel time and enhance connectivity across the country.
How does Gadkari fund his infrastructure projects?
- Gadkari offers a guaranteed annual return of 8.05% to small investors who purchase bonds for funding infrastructure projects.
What is the status of India’s national highway network according to Gadkari?
- By the end of 2024, India’s national highway network will match that of the USA.
What is Gadkari’s vision for reducing India’s import of fossil fuels?
- Gadkari aims to shift agricultural resources towards energy production, thereby reducing India’s import of fossil fuels.
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