Gadkari invites US pension, insurance funds to invest in India's road infra

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SME Times News Bureau | 14 Sep, 2021
Union Road Transport and Highways Minister Nitin Gadkari has invited US investors, particularly insurance and pension funds, to invest in the country's road and highway infrastructure.

Addressing the 17th Indo-US Economic Summit, organised by the Indo-American Chamber of Commerce (IACC), he said he "sincerely hopes more and more US companies will come and invest in the road and highway projects in India which is the gold mine for all stakeholders".

He assured better returns for the investors compared to those garnered in the US.

About the government's efforts to boost production and adoption of alternative transport fuel such as ethanol and emphasis on last mile connectivity through several modes of transport, he noted that there are opportunities for American companies to invest in research and development of mobility technology in the country.

Gadkari was of the view that both India and the US would play a major role in the post-Covid global economic recovery.

Lalit Bhasin, the Summit Chair, noted that the pandemic presented innumerable challenges in economic fronts, but such challenges are also opportunities that can motivate for scaling up in the bilateral economic value chain.

"Pandemic has taught us to reform the business models, to go further up in the digital space, become more inclusive and at the same time global in our outlook," he said

Rohit Kochhar, Regional Vice President, IACC described the current period as a "watershed moment" for the Indo-US relations.

"I say this because our partnership is not just centered around business and economics, but also assumes great significance in view of recent geo-political developments. Increasingly, there are a host of areas where our concerns and interests are both intertwined and complementary," he said.