Gadkari assures Govt’s investment in Li-ion and Hydrogen technology
India needs to continue to invest in technology to maximise the potential of the construction sector, said Deepak Shetty, Chief Executive Officer and Managing Director, JCB India.
He also emphasized on the need for sustainable development of the construction sector.
Addressing the CII National Conference on ‘Roads Infrastructure: Creating Demand-Stimulating Growth’ on 25 March 2021, he highlighted that the equipment industry has witnessed optimistic growth in the sector.
Vinayak Chatterjee, Chairman, CII National Council on Infrastructure and Chairman, Feedback Infra, also underlined the need for technology in the sector, pointing out the need for the use of Blockchain for bringing in transparency in submission and tracking of invoices.
Chatterjee also wants to see the use Surety Bonds as an alternate to Bank Guarantees (BGs), and have a highway rating mechanism on certain parameters such as driveway quality, amenities, safety, etc, by a professional agency and link it with incentives and disincentives to toll operator.
In his inaugural address at the conference, Minister for Road Transport & Highways Nitin Gadkari highlighted the Government’s focus on alternate fuels and investment in Li-ion, Hydrogen technology.
“Every rupee spent on infrastructure translates to Rs.2.5 growth in the economy. It is our firm belief that increased investment in infrastructure would not only create demand in the economy but also and more importantly it would make growth sustainable, equitable and inclusive,” Gadkari said.
The automobile sector currently contributes Rs.7.5 lakh crore to the GDP which could up to Rs.10 lakh crore leveraging alternative fuel and clean fuel technology which has huge potential to create jobs.
He insisted that there is a need for private sector to invest in R&D.
He said that in the larger interest of the nation, there was a need to take the load of traffic off-the-road. At present 85% of transit is through the roads.
The Government is making efforts to increase traffic shares of Inland waterways, Rail and Air to balance the flow and expand mobility.
Chairing the Inaugural Session, CII Director General Chandrajit Banerjee appreciated the Government’s efforts to build a world class infrastructure in the country.
He highlighted several initiatives, including launch of National Infrastructure Pipeline of Rs.111 lakh crore, Asset Monetisation Programme and a dashboard for tracking the progress to provide visibility to investors, setting up a development finance institution among others. This is an example of the Government’s unflinching commitment to build a highly efficient and cost effective infrastructure in the country. #tenders #projects #contracts #infrastructure /fiinews.com
