You are here: Home » Economy & Policy » News
Business Standard

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

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

Topics
Nitin Gadkari  | road infrastructure | US investors

IANS  |  New Delhi 

Gadkari

Union Road Transport and Highways Minister 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.

--IANS

rrb/sn/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 14 2021. 19:45 IST
RECOMMENDED FOR YOU
.