Nitin Gadkari: Indian roads to be as good as American by 2024
ROADS & HIGHWAYS

Nitin Gadkari: Indian roads to be as good as American by 2024

India is going through rapid development under PM Modi and the road infrastructure in India shall be as good as the ones in America by 2024, according to Union Minister for Road Transport and Highways, Nitin Gadkari while addressing an industry interaction session held by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).

In the session on the socio-economic vision of India via infrastructure investments, Nitin Gadkari said that agriculture, industry, employment, and infrastructure represent the pillars of growth and development. People can no longer expect just the government to make all investments as there is a need to find innovative financial models for securing the finances of projects. An excellent example and case study is the management of liquid and solid waste in Mathura.

He added that the road sector lacks a dedicated NBFC such as the power sector or Indian railways which needs to be dealt with at the earliest. Insurance funds and pension funds seem like viable options and further tie-ups with foreign funds for accessible loans against the dollar. Therefore an infrastructure-focused NBFC is an urgent requirement.

The government is working towards systematically addressing challenges in infrastructure development, land acquisition being a major obstacle and reason for delay. However, now all projects commence only after executing 80-90% of acquisitions.

Image Source

India is going through rapid development under PM Modi and the road infrastructure in India shall be as good as the ones in America by 2024, according to Union Minister for Road Transport and Highways, Nitin Gadkari while addressing an industry interaction session held by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). In the session on the socio-economic vision of India via infrastructure investments, Nitin Gadkari said that agriculture, industry, employment, and infrastructure represent the pillars of growth and development. People can no longer expect just the government to make all investments as there is a need to find innovative financial models for securing the finances of projects. An excellent example and case study is the management of liquid and solid waste in Mathura. He added that the road sector lacks a dedicated NBFC such as the power sector or Indian railways which needs to be dealt with at the earliest. Insurance funds and pension funds seem like viable options and further tie-ups with foreign funds for accessible loans against the dollar. Therefore an infrastructure-focused NBFC is an urgent requirement. The government is working towards systematically addressing challenges in infrastructure development, land acquisition being a major obstacle and reason for delay. However, now all projects commence only after executing 80-90% of acquisitions. Image Source

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000