At WEF, Gadkari pushes for foreign investment, says ‘it’s the appropriate time’

Gadkari asserted that the demonetisation move will help strengthen the economy and encourage more investments.

By: PTI | Davos | Updated: January 18, 2017 3:25 pm
Nitin Gadkari, Gadkari, Road ministry, road minister Gadkari, road transport, road accident, Road safety, CSR, corporate sector, business news Nitin Gadkari addresses the media after inaugurating the Sagarmala Development Company’s office premises in New Delhi on Monday. (PTI Photo)

Showcasing India growth story before global business leaders here for WEF annual meeting, senior Union Minister Nitin Gadkari today said it is the appropriate time to invest in the country. Gadkari, Minister for Road Transport and Shipping, said India is working on record road construction projects and there are no problems relating to land acquisition and environmental clearances.

The port sector is also growing fast and six new ports are being developed while the country is focusing big on cruise tourism. Inland riverway is another key focus and work has started with the Ganga, he said.

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“We have some new plans, including for logistics parks on highways,” Gadkari said, adding that agriculture has become a key priority.

“We are very friendly for investments and it is appropriate time to invest in India,” he said while adding that the country is also working on ways to improve purchasing power of common men as that will present further opportunities.

He was speaking at a breakfast session organised by CII and BCG on the sidelines of World Economic Forum Annual Meeting 2017. Gadkari asserted that the demonetisation move will help strengthen the economy and encourage more investments.

“There were some problems initially, but things have improved significantly now and within a month, every thing would be completely normal,” he said.

Digital payments have helped a lot, including on toll collections that have gone up, he added.

At the same session, Union Minister Nirmala Sitharaman said India has great opportunities in the services sector which contributes more than 50 per cent to our GDP and there is a great potential this year. According to Sitharaman, the services sector will remain the focus area for India in all its trade negotiations at regional, bilateral and global levels. She said India is setting standards that would help check inferior goods coming from any country, let alone China. She also criticised non-tariff barriers being put up by some countries and is of the view that questions need to be asked at global summits like WEF.

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  1. H
    Jan 18, 2017 at 1:57 pm
    Kejriwaallt;br/gt;gadhe ki khaallt;br/gt;gujar e hai poore do saallt;br/gt;karta rahta heel hawaallt;br/gt;jaise khujli wala naak ka baallt;br/gt;maro jutelt;br/gt;kar do laal
    1. K
      Jan 18, 2017 at 10:17 am
      Gasbag Gadkari does very little other than talk big. The new Motor Vehicle act is still languishing. Many dozens of projects he announced are not even started. (e.g., Metrino, Mumbai-Goa HW widening, Chabahar port, Meerut highway, to name a few). These days, the clown is seen standing behind Fadnavis at the opening of a police-chowki or some admin building.
      1. R
        Jan 18, 2017 at 12:20 pm
        The Indian government has made a ber by sending people to davos. India should ahve boycotted the event after Raheel Sharif was invited to speak on terrorism. Sharif led the stani army, and its allies, in launching several terrorist attacks against India. By speaking on the same platform, the best opportunity to put the focus back on stan has been lost
        1. S
          s s nair
          Jan 18, 2017 at 11:33 am
          1. T
            Tamilmani Marichetty
            Jan 18, 2017 at 11:05 am
            After huge development of Telecom, there appears no scope for foreign companies to have fixed clientele on new investments... But there is scope for investment by our own business magnets in all fields all over India if Government invites them with such offers which may encourage the investors...
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