Infrastructure: India best destination for investment, Nitin Gadkari tells global CEOs

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New Delhi | Updated: January 18, 2017 4:54:12 PM

Addressing global business leaders at the World Economic Forum (WEF), Road Transport and Shipping Minister, Nitin Gadkari, today showcased the country's growth story and stated that India is the best destination for investment.

Gadkari said that a good atmosphere for development is evident in the country. (PTI)Gadkari said that a good atmosphere for development is evident in the country. (PTI)

Addressing global business leaders at the World Economic Forum (WEF), Road Transport and Shipping Minister, Nitin Gadkari, today showcased the country’s growth story and stated that India is the best destination for investment. Asserting that the government is focused on agriculture and tourism sectors, Gadkari said that a good atmosphere for development is evident in the country. He further stated that India is working on record road construction projects and there are no problems relating to land acquisition and environmental clearances.

“We have some new plans, including for logistics parks on highways. 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.

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Digital payments have helped a lot, including on toll collections that have gone up, he added. At the same session, Union Minister Nirmala Sitharamansaid 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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