Synopsis:
Nitin Gadkari, the visionary leader, envisages India's ascension as the premier hub for automobile manufacturing, coupled with its attainment of the esteemed status of the world's third-largest economy by 2029. Gadkari's ambitious vision underscores India's potential for exponential growth and transformation within the automotive sector, propelling it towards global leadership and economic prominence. ICCBizNews delves into Gadkari's strategic roadmap and aspirations, shedding light on the pivotal role of the automotive industry in driving India's economic trajectory and fostering innovation, sustainability, and competitiveness on the global stage.
Nitin Gadkari underscored the significance of robust infrastructure, including water, power, transportation, and communication, in fostering the growth of capital investment, industry, and agriculture.
Nitin Gadkari, the Union Minister of Road Transport and Highways, recently proclaimed India's ambition to become the foremost automobile manufacturing hub by 2029. Additionally, he asserted that within the next five years, the country is poised to secure its position as the world's third-largest economy.
Gadkari highlighted key focus areas for the government, including the development of a world-class road network, a transition to alternative fuels, and a reduction in logistics costs. He underscored the significance of robust infrastructure, encompassing water, power, transport, and communication, as crucial for the advancement of capital investment, industry, and agriculture.
The minister affirmed the substantial contribution of the automotive industry to the Indian economy, expressing the vision of self-reliance (Atmanirbhar Bharat) and achieving the status of the world's third-largest economy within the next five years. He conveyed these aspirations in a statement quoted by The Economic Times.
Gadkari shared plans for the national highway network to match that of the USA by the end of 2024, with the construction of 36 expressways aimed at reducing travel times between major cities. Notably, he highlighted his reliance on an assured return of 8.05% per annum to small investors for infrastructure projects, rather than government funding.
Furthermore, Gadkari outlined the government's commitment to diversify into alternative fuels, aiming to reduce the annual import of fossil fuel, currently valued at ?16 lakh crore. He disclosed a collaborative project with the Indian Oil Corporation in Panipat, utilizing rice straw to produce ethanol and bio-bitumen.
Detailing the government's policy, Gadkari emphasized the simple yet significant objective of diversifying agriculture towards energy sources. This shift aims to transform farmers ('kisans') from being just 'anna daata' (food providers) to 'urja daata' (energy providers), 'bitumen daata', and 'hawaaii indhan daata' (providers of sustainable aviation fuel).
Gadkari expressed confidence that by the end of 2024, India's logistic costs would decrease to approximately 9%, leading to a considerable increase in exports. He stressed the need to align logistic costs with international standards, drawing comparisons with China, European countries, and the USA.
In conclusion, the minister expressed faith in the politics of progress and development, anticipating a majority win for the NDA alliance in the 2024 general elections. He asserted that people would prioritize good work over considerations of caste, creed, sex, religion, and language in their voting decisions.
