Nitin Gadkari calls for global investment in highways, MSME sectors to spur economic growth

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New Delhi: Union minister Nitin Gadkari on Wednesday called for increased investment by international institutions and bodies in the Indian Highways and MSME sectors, the MSME Ministry said.

Highlighting road safety measures taken by the country, the minister also said that the objective is to set out to achieve zero road fatalities by 2030.

The minister for Road Transport, Highways and MSMEs said automobile and micro, small and medium enterprises are the two growth engines of the country’s economy, according to a release by the MSME ministry.

Addressing the Indo-Australian Chamber of Commerce and Women Innovator on Trade Investment and collaborations in road infrastructure and MSMEs, the minister said India and Australia are already co-operating in the road safety sector.

He said this cooperation has provided better designs for roads and awareness opportunities for the public.

The minister stated that under Indian Road Safety Assessment Programme, 21,000 km roads have been assessed and about 3,000 km road length is under technological upgradation.

He said better road engineering and increased public awareness has brought about improvement.

“It is estimated, he added, that these upgradation programmes will bring about 50 per cent reduction in road accidents. Gadkari informed that our objective is to set out to achieve zero road fatalities by 2030,” an official statement said.

Gadkari informed that his ministry has taken lot of initiatives to reduce road accidents. World Bank and ADB have committed Rs 7,000 crore each for this campaign.

He said, by social awareness and education, improving emergency services, pressing for medical insurance, providing more hospitals, etc the country is inching closer to achieving its Road safety targets.

The minister referred to the MV Act of 2019, which is a comprehensive legislation on all aspects of the transport sector in India.

The minister said the government is concentrating on village, agricultural and tribal sectors for providing employment opportunities there. He emphasized that it is the micro, small and medium enterprises (MSME) sector which will drive the Indian economy in the coming years.

He said that investment in infra and insurance sectors has been opened up, as there are huge opportunities in insurance, pension and share economies.

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