Transport summit to attract Rs 2 lakh crore investment: Nitin Gadkari
NEW DELHI: The India Integrated Transport and Logistics Summit is expected to attract investment worth Rs 2 lakh crore, road transport and highways minister Nitin Gadkari said on Wednesday.
The summit, which starts from Thursday, will see participation from leading highways and shipping players from the countries like Singapore, Hong Kong and Abu Dhabi. "We are expecting to draw investments of Rs 2 lakh crore at the summit, in which various ministries, including transport and highways, shipping, railways and aviation are coming on a single platform for the first time," Gadkari said.
The summit is in line with government’s plans to have an effective multi-modal logistics and transport sector to make the economy more competitive. The Minister said that the government planned to bring down logistics costs drastically to enhance exports and create huge employment.
“Memoranda of understanding (MoUs) would be signed with international companies for construction of logistics parks, warehouses near ports and last mile connectivity projects. It will bring in massive Investments and job opportunities in the sector," Gadkari said.
The ministry plans to build multimodal 35 logistic parks in the country which will cater to 50 per cent of the freight movement and enable 10 per cent reduction in transportation costs. The parks will be developed jointly by the National Highways Authority of India (NHAI), the respective state governments and private players.
( Originally published on May 03, 2017 )