Union Minister Nitin Gadkari has emphasized that strategic investments in infrastructure and industrial development will pave the way for India to become the world's third-largest economy. Speaking in various forums, Gadkari has consistently highlighted the critical role of infrastructure in achieving this ambitious goal.
Gadkari underscored that good infrastructure will help the country bring in capital investments and industrial development. These investments will further create jobs, boost exports, and raise the overall growth of the economy. He stated that these factors will help India achieve a GDP of over $5 trillion and become the third-largest economy globally.
The government has been actively working towards improving the country’s infrastructure through various initiatives. A key focus is on reducing logistics costs, which, according to Gadkari, are a crucial factor in attracting investments. The government aims to bring logistics costs down to 9%, which will significantly boost the economy and create employment opportunities for millions of youths.
Several significant projects are underway to strengthen India's infrastructure. This includes the construction of 27 greenfield expressways spanning 10,000 kilometers across the country, with an investment of Rs. 5 lakh Crores (approximately $60 billion). Additionally, the government is investing 1.4 trillion dollars in infrastructure development through the National Infrastructure Pipeline. The road sector alone accounts for 19% of this capital expenditure between 2019 and 2025.
Gadkari has also stressed the importance of innovation in fuel technology for development. The government is actively promoting biofuel, ethanol, electric, and CNG vehicles to diversify fuel sources and reduce reliance on fossil fuel imports.
Furthermore, Gadkari is encouraging investments from both domestic and international investors, particularly from the United States, in road and highway projects, describing India as a "gold-mine" for investors. He mentioned that the government is dedicatedly working towards expanding the National Highway network to 2 lakh kilometers by 2025.
Nitin Gadkari believes that India's strong economic growth, coupled with strategic infrastructure investments, will propel the nation to become the third-largest economy in the world. He also believes Maharashtra is set to contribute significantly in making India the third largest economy in the world by 2030.
