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India needs FDI worth Rs 50 to 60 lakh crore to accelerate coronavirus-hit economy: Nitin Gadkari
Jul-03-2020

In order to accelerate the wheels of coronavirus-hit economy, the Union minister Nitin Gadkari has said that India needs Foreign Direct Investment (FDI) worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector. Emphasising that at this juncture FDI is the need of the hour, the minister said such funds would benefit the country as there is a need for pumping in liquidity into the market. Economic activities have been significantly disrupted in the wake of the pandemic and subsequent lockdowns that were in place to curb spreading of infections.

He noted that infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from Micro, Small and Medium Enterprises (MSMEs) can attract large scale foreign investment. He further said that talks are on with investors from Dubai and the US for various sectors, including MSMEs.

While noting that the present situation is very serious as the entire world is facing problems, Gadkari stressed on the need to work on a war-footing basis on infrastructure front. Further, the minister noted that public private partnerships can help harness huge funds and would have a cascading impact by generating more employment and boosting the economy. Besides, the minister said that 22 green highways were being build, including the Rs 1 lakh crore Delhi-Mumbai Expressway on a new alignment.

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