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India a 5 trillion-dollar economy: Nitin Gadkari

Strong, Stable, Decisive and Transparent Government is the key

Strong, Stable, Decisive and Transparent Government is the key to achieve dream of our Hon’ble PM of making India a 5 trillion-dollar economy: Nitin Gadkari

 

Union Minister of Road Transport and Highways, Nitin Gadkari delivered a speech at a session on PM Gati Shakti during ‘India Calling Conference 2023‘ organized by the Indian Merchants Chamber in Mumbai. Shri Gadkari congratulated IMC for organizing ‘India Calling Conference’ every year with an objective to promote ‘Brand-India’. He said, Strong, Stable, Decisive and Transparent Government is the key to achieve dream of our Hon’ble PM of making India a 5 trillion-dollar economy by 2025.

Speaking about the PM Gati Shakti Project Minister Gadkari said, “PM Gati Shakti National Master Plan (NMP) is a very big initiative and it will help us reduce logistics costs. Logistics cost in India is higher at 13% to 14% of GDP compared to 8% to 9% of GDP in other developed economies such as the USA. Higher logistics cost reduces the competitiveness of ‘Made in India’ products in global markets. Reducing logistics costs to 9% of GDP is at the top of Government’s agenda.”

About plans to improve highway network, Minister said that  NHAI is developing world class ‘Wayside Amenities (WSA)’ at more than 600 locations along the National Highways. Apart from basic facilities like good toilets, parking and restaurants; these Way Side Amenities will also have Dormitories for Truck Drivers, EV Charging facilities, Convention centers, Trauma centers and Retail shops for promoting handicrafts and locally manufactured products. Some WSAs will also have Helipads and Drone Landing Facilities to deal with medical emergency situations like road accidents and organ transplantation.

As per the National Hydrogen Mission all Major Ports to have Green Hydrogen / Ammonia bunkers and refuelling facilities by 2035: Sarbananda Sonowal

Delivering his address, Union Minister of Ports, Shipping &Waterways and AYUSH Sarbananda Sonowal said that  India is forging ahead with a speed never seen before. “It took Indian economy 60 years to reach US $ 1 Trillion mark and now, in just 9 years from 2014, India is almost a three and a half Trillion Dollar economy”, said the Union Minister.

Shri Sonowal added that Under PM Gati Shakti NMP, Ministry of Ports, Shipping, and Waterways has identified 101 projects worth Rs.  62,227 Crores for implementation by 2025. Out of these 101 projects, 26 projects worth Rs. 8897 Crore have been completed, 42 projects amounting 15,343 Crore are under development and 33 projects worth Rs36638 Crore are under implementation. Out of the projects under implementation, 14 projects worth Rs 20,537 Crore are expected to be completed by Dec 2023.

The Minister added that of 101 Gati Shakti projects, 12 projects amounting 9867 Crores are being executed in the State of Maharashtra, out of which 3 Projects amounting to Rs. 3,165 crores have been completed. 2 projects amounting to Rs. 675 crores are under development while rest 7 projects amounting to Rs. 6,027 Crores are under implementation and expected to be completed till 2025.

Explaining the progress made under Sagarmala Project Shri Sonowal said that currently, there are 802 projects worth investment of Rs. 5.4 lakh Cr. for implementation under the Sagarmala Programme by 2035.  228 projects worth Rs. 1,21,545 Cr. have been completed and 260 projects worth Rs. 2.36 lakh Cr. are under implementation. Further, 314 projects worth Rs. 2.11 Lakh Cr. are under various stages of development. In the state of Maharashtra, there are 126 projects worth Rs. 1,13,285 Cr under Sagarmala Programme. Out of 126 projects, 39 projects worth Rs 16,393 Cr have been completed. 42 projects worth Rs 18,146 Cr are under implementation. 45 projects worth Rs 78,746 Cr are under development stage.

Speaking about green initiatives, he added that as per the National Hydrogen Mission of the country, Green Hydrogen / Ammonia bunkers and refuelling facilities are to be established in all Major Ports by 2035. Deendayal, Paradip & V.O. Chidambaranar Ports are developing infrastructure for establishment of hydrogen bunkering.

MC has rich heritage of contributing towards Swadeshi movement during India’s Freedom Struggle : Darshana Jardosh

Speaking on the occasion Minister of State for Railways & Textiles Darshana Jardosh said that IMC has rich heritage of contributing towards Swadeshi movement during the freedom struggle. She noted that there are a lot of Projects in rail sector where there are investment opportunities. ” Several domestic and foreign investors are looking to invest in rail projects. 100% FDI via automatic route is allowed in rail sector. Government plans to invest 715 billion dollars in Rail infrastructure by 2030. “, informed the Minister.

Earlier Chief of Defence Staff General Anil Chauhan stated that India is a major importer of defence equipments to maintain operational preparedness and self-reliance and reduction in import dependency is important for our strategic goals. He was speaking in a session on Opportunities in Defence Manufacturing

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