Future of Mobility to be launched in Jan 2023, says Prez-elect Panda
Logistics cost in India will fall to single digits, up to 9% of GDP by the end of 2024 from 16% of GDP presently, Minister of Road Transport and Highways Nitin Gadkari has assured the country’s industrialists.
“It is going to help us get more exports. Now is the time to increase our business and presence in the international market,” he stressed in an address to the annual convention and 95th AGM of FICCI.
The Minister further stated that before the end of 2024, India’s road infrastructure would be equal to the American standard.
India is on the path to building an inclusive Bharat by following the vision of the Prime Minister Narendra Modi by boosting investment, economic growth and employment creation to achieve sustainable development.
However, “we need to have cooperation, coordination and communication between all stakeholders”, he said, underlining the support needed from industrialists and corporate heads.
In addition, Gadkari noted the research in battery chemistry and said, “we should be the leaders in the sector”.
The government aims to double the automobile sector to Rs.15 lakh crores, making India one of the biggest automobile manufacturers in the world and creating jobs for skilled manpower.
Moreover, underscoring the importance of sustainability in the construction sector, he pointed out, “We are trying to minimise the use of cement and steel in construction work by adopting substitutes like fly ash, oil slag, waste plastics and demolition waste.”
The Minister invited FICCI to prepare a comprehensive growth plan for the next fifty years for all sectors.
Speaking at the same event, FICCI President Sanjiv Mehta noted that the “all-inclusive, all-pervasive and all-round development initiatives” of the government are transforming India, with each step bringing the nation closer to Aatmanirbhar Bharat.
He added that the National Logistics Policy would be instrumental in creating an integrated pathway towards economic development.
Elaborated Mehta, “The increased spending on infrastructure development is leading to a multiplier effect in rejuvenating the aggregate demand in the economy.”
“Infrastructure construction alone has the potential to contribute 25% of incremental growth from non-farm jobs by 2030.”
He also drew attention to India’s Century – achieving sustainable, inclusive growth, a unique FICCI initiative supported by the McKinsey & Co to establish a roadmap for India for the next 25 years.
FICCI President-elect Subhrakant Panda underlined several policies that will catalyse the national economy by driving growth in allied sectors, like housing, steel and cement.
These include PM GatiShakti for integrated infrastructure development worth Rs.7.5 lakh crore in FY23, construction of 65,000 kilometres of national highways and the implementation of projects in the National Infrastructure Pipeline.
Alluding to the government’s focus on sustainable infrastructure, Panda highlighted FICCI initiatives, first on ‘Decarbonising Construction: Building a Low Carbon Future’ and the second, ‘Future of Mobility: India’s Journey Towards Net Zero’, to be launched in January 2023. fiinews.com
