Road transport minister Nitin Gadkari said the government has set a road construction target of Rs 15 lakh crore over the next two years. Gadkari also expressed confidence that India will achieve the target of 40 kilometres per day of highway construction in the current financial year.
“Government is giving utmost priority to the development of infrastructure and has set a target of road construction worth Rs 15 lakh crore in next two years,” Gadkari, while addressing the India-US partnership vision summit. He said that the Government is permitting 100 per cent FDI in the road sector.
During his address, Gadkari also urged the US companies to invest in infrastructure and micro, small and medium sectors in India. He apprised the participants about projects like the National Infrastructure pipeline (NIP) for 2019-2025. “Under the NIP, there are over 7,300 projects to be implemented at a total outlay of Rs 111 lakh crore by year 2025,” the Union minister said.
NIP aims at improving project preparation, and attract investment into infrastructure like highways, railways, ports, airports, mobility, energy, agriculture, and rural industry.
The transport ministry achieved record construction of highways in 2020-21 despite COVID-led disruptions at 13,298 km. This translates into about 37 km per day.
Addressing the Indo-US Partnership Vision Summit through video conferencing on Friday, the Minister said that in the new era of bilateral relations, the national interests of India and the United States are converging and there is growing confidence between both the administrations that all outstanding trade issues will be resolved and major trade agreements will be signed soon.