A strong, stable, decisive and transparent government is the key to realizing our Hon’ble Prime Minister’s dream of making India a $5 trillion economy: Nitin Gadkari

A strong, stable, decisive and transparent government is the key to realizing our Hon’ble Prime Minister’s dream of making India a $5 trillion economy: Nitin Gadkari

Union Minister for Road Transport and Highways, Nitin Gadkari delivered the keynote address at a session on Pradhan Mantri Gatishakti during the ‘India Calling Conference 2023’ organized by the Indian Merchants Chamber in Mumbai. Gadkari congratulated the Indian Merchant Chamber for organizing the ‘India Calling Conference’ every year with the aim of promoting ‘Brand-India’. In his speech, Gadkari said that a strong, stable, decisive and transparent government is the key to realizing our Hon’ble Prime Minister’s dream of making India a $5 trillion economy by 2025.

“PM Gati Shakti National Plan (NMP) is a very big initiative and it will help in reducing logistics costs,” Minister Gadkari said while talking about the PM Gati Shakti project.

Logistics costs in India are high at 13% to 14% of GDP compared to 8% to 9% of GDP in other developed economies like the US, he informed. He added that increased logistics costs reduce the competitiveness of ‘Made in India’ products in the global market. He said that reducing logistics costs to 9% of the gross domestic product has been prioritized in the government’s agenda.

The National Highways Authority of India (NHAI) is developing ‘World Class Roadside Facilities (WSA)’ at more than 600 locations along the national highways, Gadkari said while talking about plans to improve the country’s highway network.

The facilities along the highway will include basic facilities like good toilets, parking and canteens, accommodation for truck drivers, EV charging facilities, convention centres, trauma centers and retail outlets to promote handicrafts and local products. Some highway facilities will also have helipads and drone landing facilities to deal with medical emergencies such as road accidents and organ transplants.

Union Ports, Shipping and Waterways and AYUSH Minister Sarbanand Sonowal said that India is progressing at a pace never seen before. “It took 60 years for the Indian economy to reach the $1 trillion mark and now, in just nine years from 2014, India’s economy is nearly three and a half trillion dollars,” said Sonowal.

Under the PM Gatisakti National Plan (NMP), the Ministry of Ports, Shipping and Waterways has identified 101 projects worth Rs 62,227 crore to be implemented by 2025. Out of these 101 projects, 26 projects worth Rs 8897 crore have been completed and 42 projects worth Rs 15,343 crore are under development while 33 projects worth Rs 36638 crore are under implementation. Out of the projects under implementation, 14 projects worth Rs 20,537 crore are expected to be completed by December 2023.

Out of 101 Gati Shakti projects, 12 projects worth Rs.9867 crore are being implemented in the state of Maharashtra, out of which 3 projects have been completed with an expenditure of Rs.3,165 crores, while 2 projects worth Rs.675 crores are under development and the remaining 7 projects worth Rs.6,027 crores are still under implementation and will be completed by the year 2025. It is expected to be completed by Sonowal informed.

Informing about the progress made under the Sagarmala project, Minister Sonowal said that currently 802 projects with an investment of Rs 5.4 lakh crore have been taken up for implementation till the year 2035 under the Sagarmala programme. Out of which 228 projects worth Rs 1,21,545 crore have been completed and 260 projects worth Rs 2.36 lakh crore are under implementation. Apart from this, 314 projects worth Rs 2.11 lakh crore are under various stages of development. There are 126 projects worth Rs 1,13,285 crore in the state of Maharashtra under the Sagarmala programme. Out of these 126 projects, 39 projects worth Rs 16,393 crore have been completed. 42 projects worth Rs 18,146 crore are operational, while 45 projects worth Rs 78,746 crore are under development.

Talking about green initiatives, he added that as per the country’s National Hydrogen Mission, green hydrogen/ammonia bunkers and all fueling facilities are to be set up in all major ports by the year 2035. Deendayal, Paradeep and V.O. Infrastructure is being developed for the creation of hydrogen bunkering at Chidambaranar ports.

Speaking on the occasion, Minister of State for Railways and Textiles Darshana Zardosh said that IMC has a rich heritage of contributing to the Swadeshi movement in the freedom struggle. She further said that many projects are underway in the railway sector where there are huge investment opportunities. Both domestic and foreign investors are looking to invest in these railway projects. 100% Foreign Direct Investment (FDI) is allowed in railway sector through automatic route. The government plans to invest 715 billion dollars in railway infrastructure by the year 2030,” informed Darshana Zardosh.