Union Road Transport and Highways Minister Nitin Gadkari emphasized the importance of Indian firms collaborating with US companies to access cutting-edge technologies. Speaking at the American Chamber of Commerce (AMCHAM) summit, Gadkari highlighted India’s rapid economic growth and the need for joint ventures with US counterparts. He also mentioned the Ministry’s plans to engage US companies in developing detailed project reports for highway projects.
Gadkari underscored the significance of the supply chain in logistics and noted that India’s logistics costs have decreased to single digits due to the expansion of expressways and economic corridors. Citing a recent study by IIT Chennai, IIT Kanpur, and IIM Bangalore, he pointed out that India’s infrastructure development has significantly reduced logistics costs from 16% to 10%.
The minister expressed ambitions for India to become a global leader in the automobile industry within five years. Highlighting the industry’s growth from Rs 14 lakh crore to Rs 22 lakh crore under his tenure, Gadkari emphasized the sector’s contribution to employment and tax revenue. He also stressed the need to transition to clean energy to mitigate the economic and environmental impacts of fossil fuel dependence.
Gadkari revealed plans to introduce green hydrogen-powered trucks on ten highway stretches across India to curb vehicular emissions. These routes include key locations like Greater Noida-Delhi-Agra and Thiruvananthapuram-Kochi. AMCHAM, comprising over 400 US companies, plays a vital role in fostering Indo-US business relations, with the US Ambassador to India serving as its Honorary President.
