India, US bilateral trade projected to reach $500 bn by 2025: Gadkari

Union Minister for Road Transport and Highways Nitin Gadkari said on Tuesday that the bilateral trade between India and the US has grown from $16 billion to $ 149 billion in the last two decades.

Gadkari said, "The trade is projected to reach $500 billion by 2025."

Addressing the 17th Indo US Economic Summit 'Bouncing Back-Resilient Recovery Path Post Covid-19', he said, "I strongly believe that two countries - India and the US - have an important role to play post-Covid economic recovery. There should be informed discussion at the various levels since the recovery needs new ideas and approaches. Since the global depression that has happened in the 1920s, the current situation is the biggest challenge that mankind has ever faced."

He added, "We need a new thought process and a creative agenda to view a new pathway to recovery. World largest vaccination drive is running in the country to make pandemic-free India."

Gadkari added, "I sincerely hope that more & more US investors will invest in road & highway projects in India which is a gold mine for all stakeholders. They have a tremendous opportunity for investment in the road infrastructure."

He also asked the US investors, particularly insurance and pension funds, to invest in India's road and highway infrastructure.