New Thought Process Is Needed for Post COVID Economic Recovery: Nitin Gadkari

Union Minister for Road Transport and Highways Shri Nitin Gadkari has said the US and India have an important role to play in the post-Covid 19 economic recovery. Addressing the 17^th Indo-US Economic summit he said there should be informed discussion on this subject at various levels since the recovery needs new ideas and approaches. He said a new thought process is needed and a creative agenda to view new pathways of recovery.

Shri Gadkari said a lot of importance is being given to innovation, research and technology in shaping the future of the infrastructure sector. He said he sincerely hopes more and more investors from the US will come and invest in roads and highway projects in India which is the gold mine for all stakeholders. He said insurance funds, pension funds have tremendous opportunities for investment in road infrastructure in India.

The Minister said it will be a win-win situation for both countries. He said technical and financial eligibility criteria for bidders have been relaxed and project package size optimized to expedite the work.

Shri Gadkari said various models for monetization of roads involving the private sector including foreign investors have been experimented with successfully.