invites US investors for electric highway projects in India

Union Road Transport and Highways Minister Nitin Gadkari has called on US investors to come forward and invest in road and highway projects in India, which is a gold mine for investors. The Union Minister also talked about the electric highway which will be powered by solar energy and will facilitate the charging of trucks and buses along the way.

Virtually inaugurating the Indo-American Economic Summit of the Indo-American Chamber of Commerce, he said that the United States of America and India are leading democracies in the world with strong bilateral relations. “We are natural partners and have much to contribute to mutual growth. Countries have always shown mutual trust, respect and cooperation in social, economic and strategic terms. This year’s theme “The New Agenda for the Next 25 Years” will set the roadmap for strengthening our relationship,” he added.

Also Read: Nitin Gadkari: Government working to develop electric highways powered by solar energy

The minister said the government is offering innovative and investor-friendly products like InvIT to enable retail investors to participate in the fundraising campaign. “We design the products so that retail investors can get good annual returns above fixed deposit rates,” he said, adding that the Chamber should take the lead and identify areas where our talented human resources can help design the best financial system. Instruments to enable investments in the sub-Indian space.

“We have a well-developed framework for public-private partnerships (PPP) in the road sector. The Asian Development Bank has ranked India first in PPP Operational Maturity and also named India as a Developed Market for PPPs. All project documentation, contractual decisions and approvals are now done through the digital portal,” the minister added.

The minister said that the government is also working on the development of the electric highway which will be powered by solar energy, this will facilitate the charging of trucks and buses along the way. “US-based companies can collaborate with our research and development efforts toward EV battery technologies and the retrofit industry,” he said.

He said the government has launched the Prime Minister’s Gati Shakti National Master Plan for holistic and integrated infrastructure development in the country. With Gati-Shakti, all stakeholders will follow the 3C rule: Cooperation, Coordination & Communication.

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