Don’t need China or Chinese investments: Nitin Gadkari

0 0
Read Time:2 Minute, 19 Second

The government will ease financial and technical conditions for Indian companies to bid for roads and highways, to help them meet the guidelines without any support from Chinese investors, said Union minister Nitin Gadkari, in an interview to ET Now.

Gadkari’s statement assumes significance after India said that it will not allow Chinese companies to participate in highways projects, including those through joint ventures, amid the stand-off with China at the line of actual control in Ladakh.

“We have taken a decision and we will formulating a policy soon. We will relax the conditions for the technical and financial qualifications for the infra projects,” said the minister. Gadkari also allayed fears that infrastructure sector will see a funding crunch if Chinese investments are not allowed.

“Indian infrastructure is not dependent upon Chinese investments. We are getting investments from the whole world. Nobody wants to deal with China globally. The reluctance of nations to deal with China can benefit India immensely” the minister said.

Gadkari made a case for Industry to reduce excessive reliance on imports and focus on Atmanirbhar Bharat. “Indian companies are fully capable and they don’t need China or Chinese investments. There’s no rocket science. We need to find a way out without compromising quality. Our Indian industry should use this time to update their technology and increase cost competitiveness”, the union minister added.

The union minister pledged support to the Indian automobile industry and said the government will give necessary support for Make-in-India mission.

“Bajaj and TVS are exporting 50% of their products. We expect the same from the auto industry. Initially, Indian products may not be competitive but slowly when they standardize their production and increase productivity, we will increase competitiveness. It is time for Indian industries to find a way out in terms of all products we are importing from China” Gadkari added.

Batting for scrappage policy in the automotive sector, the road transport minister, said the policy will be cleared soon, “We are in the final stages of rolling out scrappage policy. Scrappage policy will improve the availability of raw material, recycling. Scrappage policy will help the automobile industry reduce the cost”.

if(geolocation && geolocation != 5 && (typeof skip == 'undefined' || typeof skip.fbevents == 'undefined')) { !function(f,b,e,v,n,t,s) {if(f.fbq)return;n=f.fbq=function(){n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)}; if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)}(window, document,'script', ''); fbq('init', '338698809636220'); fbq('track', 'PageView'); }

Source link

0 %
0 %
0 %
0 %
0 %
0 %
Tagged atmanirbhar bharat, Chinese investors, cost competitiveness, Line of Actual Control, Nitin gadkari, Scrappage policy

Average Rating

5 Star
4 Star
3 Star
2 Star
1 Star
(Add your review)

Leave a Reply

Your email address will not be published. Required fields are marked *