Gadkari to seek infra investment during his US visit

The Dollar Business Bureau

India seeks American investments in innovative technologies for the development of its highways, road engineering and green fuels during the week-long visit of Road Transport and Shipping Minister Nitin Gadkari to the US.

"Indo-US cooperation in the vital infrastructure sector will get a new impetus when Road Transport, Highways & Shipping Minister Nitin Gadkari holds official talks with his counterpart, US Secretary of Transportation, Anthony Foxx in Washington tomorrow (Monday)," Road Transport and Highways Ministry said in a statement.

"Gadkari will highlight investment opportunities in the Indian maritime sector and invite US investments in ports, port-led industrialisation, coastal economic zones, and construction of new berths and terminals in existing ports, mechanization, ship building and ship repairing, among others,” the statement said.

The Indian shipping minister is accompanied by senior officials who will meet the American infrastructure companies at several interactions organised by the US India Business Council, the Indo-American Chamber of Commerce, Goldman Sachs and others in New York, Washington and San Francisco.

India envisages foreign investments worth about $50-60 billion for infrastructure sector and another $100 billion for industrial development to stimulate port-led economic growth in maritime sector and inland waterways.

Gadkari will also hold bilateral talks with the US Transportation Secretary Anthony Foxx in Washington on Monday with an aim to strengthen and enhance bilateral cooperation in infrastructure sector.