Nithin Gadhari asks industry to join hands with the Government to rescue COVID hit economy

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On Thursday Nitin Gadkari asked the players to work along with the government, to salvage COVID19 hit economy by taking up ventures on public-private partnership (PPP) mode and by promising to help all the industry. To create demand to address the need for liquidity in the economy he suggested all stakeholders including financial institutions, industries, MSMEs, infrastructure and banks should jointly work.

                       The economy is currently facing lots of challenges, in this situation we need cooperation from all stakeholders. Our government is supportive and positive and at the same time as a facilitator, in helping to promote trade, industry, and business we are making decisions in this regard, said Road Transport Highways and MSME Minister Gadkari said.

                    Through a video conferencing he was addressing Renewable Energy Manufacturing Conference, organized by industry body CII in association with the Ministry of New and Renewable Energy (MNRE).

                With an appropriate vision we need to move fast and we need to plan for agriculture infrastructure, industries, banks, financial institutions, and MSMEs, he said. Adding the need of the hour was to create demand through PPP projects and there was a liquidity crunch in the economy.

             Industry bodies like CII were asked to get in touch with the Ministry of Environment and Forests for the fast clearances to projects.

          For self-assessment of pollution levels by industry, the minister stressed that there is a need to find out a system and a fine amount could be manifold in case they are found guilty, including jail term in case of repeated offense.

           The Prime Minister Accorded priority to infrastructure development and 22 green highways were on the anvil, including Rs 1lakh crore Delhi-Mumbai Express on a greenfield alignment said Gadkari. The travel time will be reduced from the present 48 – 50 hours to 28 hours with the introduction of the expressway.

        Setting up industrial clusters along the highways develops far-flung areas and decongest metropolises. The use of LNG must be reduced, LNG is the fuel for the future.  CNG and LNG stations will be set up in the highways.  60% of these fuels can be saved as compared to diesel the minister said.

          There is also a need to use LNG or CNG fuelled buses instead of old diesel buses. MSME is an important sector for the development of the country, to boost MSME more importance could be given to export and reducing imports, 30% of GDP growth is contributed by MSMEs. And 48 to 50 exports and have created jobs more than 11 crores.

          A credit rating system should be introduced for MSMEs to tap foreign capital investment. To uplift rural economy the minister asked industry bodies to forward for ‘Aatmanirbhar Bharat’, and to work in 115 aspirational districts.

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