Nitin Gadkari visits US to attract FDI in infrastructure sector
Union road transport and highways minister Nitin Gadkari will in Washington on Sunday on a week- long official visit aimed at attracting billions of dollars in Foreign Direct Investment (FDI) in the crucial infrastructure sector in India.business Updated: Jul 09, 2016 16:26 IST
Union road transport and highways minister Nitin Gadkari will in Washington on Sunday on a week- long official visit aimed at attracting billions of dollars in Foreign Direct Investment (FDI) in the crucial infrastructure sector in India and accelerating bilateral cooperation with the US.
Gadkari will also visit Washington and Los Angeles with in between stops in New York, St Louis and San Francisco.
Gadkari will hold bilateral talks with secretary of transportation Anthony Foxx in Washington on July 11 which is aimed at strengthening and expanding India’s relations with the US by enhancing bilateral cooperation in infrastructure sector, officials said.
At the US department of transportation, Gadkari will witness modal presentations by federal highway administration, US maritime administration and National Highway Traffic Safety administration.
His itinerary in Washington includes a talk on ‘A window into India’s Infrastructure Development’ organised by Atlantic Council, a Washington-based think tank.
The delegation accompanying Gadkari will give presentations on port-led development, inland waterways development and highway infrastructure, logistics at a luncheon roundtable with investors and infrastructure companies arranged by the US-India Business Council.
“Gadkari will be particularly looking for widening and deepening the scope of Indo-US cooperation in innovative technologies for improving highway development, road engineering, road safety and development of green fuels in automobile sector and electric vehicles,” an official accompanying Gadkari said.
During his interaction with the US captains of trade and industry and pioneers in the maritime sector, Gadkari will highlight investment opportunities in the Indian maritime sector and invite US investments in building ports, port-led industrialisation, coastal economic zones, construction of new berths/terminals in existing ports like JNPT, Mumbai and Kandla Ports, capital and maintenance dredging, mechanisation, hinterland connectivity and evacuation infrastructure, ship building, ship repairing and ship recycling, officials said.
According to officials, Gadkari has envisaged 50-60 billion doller FDI for infrastructure and another 100 billion doller towards industrial development for port-led economic growth in the maritime sector and inland waterways, water transport, coastal and cruise shipping, solar and wind energy generation to further boost the country’s growth momentum.