Rs 5 Lakh Crore Investment In Road Building In 5 Years: Nitin Gadkari

NEW DELHI: A whopping investment of Rs 5 lakh crore would be made in the road sector in the coming five years, transport minister Nitin Gadkari said.

"In five years, there will be investment of Rs 5 lakh crore" in the road sector, Gadkari said while inaugurating the eighth Rubber Expo and Tyre Show (IRE) here.

The minister said from building mere two km roads a day, the new government would build 30 km roads a day in two years.

Underlining the enhanced role of the private sector in infrastructure projects through public-private-partnership (PPP), he said the government would extend full support to the industry, including lowering of interest rates.

The government is taking a number of steps to boost infrastructure projects he said, adding, "We want to build more ports. We are going to increase the port capacity using the PPP route."

Gadkari also said that the government is determined to significantly lower the number of deaths due to road accidents.

"This number at present is very high. There are five lakh road accidents in which 1.50 people lose their lives. We want to improve quality of roads. We are sincere and determined to reduce accident deaths," he said.

The Motor Vehicles Act is also being amended to make road journey safe and procedures simplified and transparent for licensing, and road permits etc, he said adding the government would encourage use of technology in making the road journey safe.

Speaking at the event, All India Rubber Industries Association President Mohinder Gupta said that a number of steps are needed from the government to boost the sector.

He suggested a separate Rubber Commissioner to look after interest of the consumer industry and formation of a separate Export Promotion Council for the rubber products besides duty free imports of raw materials which are not manufactured in India.

High import duty, as much as 20 per cent on natural rubber has been an area of great concern for the industry, he said.

The three-day rubber expo is showcasing India's prowess in the rubber industry in its various facets.

A total number of 325 exhibitors are participating in the show with a strong presence from the UK, France, the U.S, Italy, Germany, Vietnam, Sri Lanka and Taiwan, China, South Korea and Malaysia.

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