Union Minister Nitin Gadkari has said the Rs100 lakh crore-Ganashakti scheme will provide a framework for the National Infrastructure Pipeline programme and make Indian products more competitive by cutting down logistic costs and improving supply chains.
Addressing the American Chamber of Commerce's (AMCHAM) 29th AGM, Gadkari also sought investments in the road sector from insurance and pension funds of the US.
The Gatishakti scheme was announced by Prime Minister Narendra Modi during his Independence Day speech on August 15. The initiative is set to be launched this month.
According to the minister,"The Gatishakti master plan will provide the framework for the NIP programme and is aimed at making Indian products more competitive by cutting down logistic costs and improving supply chains,"
He further mentioned, infrastructure development will play an important role in India's aim to become a USD 5 trillion economy.
"India's supply chain infrastructure is getting momentum. The government is investing USD 1.4 trillion in infrastructure development through NIP," he said.
Gadkari also said that his ministry through NHAI is planning to raise USD 15 billion through the monetisation of highways in the next five years.
Noting that India has got huge economic potential and viability available for pension and insurance funds in Indian road infrastructure, he said, "We can offer you good returns, (and) huge potential of economically viable projects".
minister pointed out that India is allowing 100 per cent FDI in the road
sector, and there is a huge opportunity for joint ventures.