Gadkari meets USA investors, asks them to invest in India

Gadkari meets USA investors, asks them to invest in India

Gadkari meets USA investors, asks them to invest in India

Gadkari, who arrived on Sunday on a week- long official visit aimed at attracting Foreign Direct Investment (FDI) in the infrastructure sector, said the cost of logistics (of the total cost) accounted for 18 percent in India, whereas in China it was just around 8 percent and in European countries the cost was around 8-12 percent.

Union Minister for Road Transport and Highways & Shipping Nitin Gadkari has called upon the U.S. investors to invest in India, saying it is a golden opportunity for them as the present government is giving topmost priority to infrastructure development.

Mr. Gadkari said the USA has assured cooperation with the rules, regulations, the software technology, road safety and intelligent traffic management.

Expressing confidence, Gadkari said the government will be successful in passing the Road Safety Bill in the upcoming Monsoon Session of Parliament.

"During his USA visit, Gadkari will highlight investment opportunities in the Indian maritime sector and invite USA investments in ports, port-led industrialisation, coastal economic zones, construction of new berths and terminals in existing ports, mechanization, ship building and ship repairing, among others", it said.

"With the traffic situation in metros such as Delhi, Mumbai, Kolkata, Chennai, Hyderabad and Bangalore, we want to set up an intelligent traffic system in such cities that will provide detailed and accurate information for road management", Mr Gadkari said. Mr Gadkari in the commercial capital of the US Indo-American Chambers of Commerce, JP Morgan, Goldman Sachs and the US-India Business Council will also hold meetings with investors in several meetings.

In India, more than 150,000 people are killed in five lakh road accidents every year.

"Road safety is highest priority for our government", Gadkari told Indian journalists during a media round-table after his-day long meetings including that with US Transportation Secretary Anthony Foxx and American business community.

"We have discussed road engineering, because for flyovers and concrete pyramids there are rules and regulations for the construction".

Increased collaboration and investment in joint infrastructure project between the USA and India is expected to drive global opportunities for breakbulk operators.

"There was interactions with different secretaries belonging to different transports, particularly the road sector, inland waterways, aviation". Out of it, the Ministry have already cleared 55,000 as national highway, said Nitin Gadkari. The Indian delegation accompanying Shri Gadkari will give presentations on port-led development, inland waterways development and highway infrastructure.

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