Nitin Gadkari, Union Minister for Road Transport & Highways, and Micro, Small and Medium Enterprises said “The construction equipment industry can hope to expect a 40 percent increase in sales soon, as the Central government is pumping huge amounts of investment in road and other infrastructure projects. The Union Minister said this during inaugurating of the 10th edition of South Asia’s biggest construction equipment trade fair Excon 2019 in Bengaluru.
Gadkari urged the private players in the construction industry to focus on mechanisation, adoption of advanced technologies and global best practices, usage of LNG and bio-fuels, and innovations in using waste materials as raw materials for their construction projects to reduce the cost of construction and pollution.
He said “The projects are many under waterways, airports, ports, and smart cities. But the private sector should focus on bringing down the cost of construction and pollution only then we can do business,”.
Gadkari further said that the Prime Minister’s vision is to make India a USD 5-trillion economy and to achieve this goal, the government is embarking on major infrastructure and industrial projects worth INR 100 lakh crore.
“For the road sector alone, the Centre is investing INR 2 lakh crore this year. The amount of investment for the next year will increase to INR 3 lakh crore. Within the next five years, the total government spend on the road infrastructure will be about INR 17 lakh crore,” he added.