INDIAN PORTS IN FOR RS.6,000 CRORES PROFIT BY CURRENT YEAR: GADKARI

INDIAN PORTS IN FOR RS.6,000 CRORES PROFIT BY CURRENT YEAR: GADKARI

INDIAN PORTS IN FOR RS.6,000 CRORES PROFIT BY CURRENT YEAR: GADKARI

 

No.PR-144
November 28, 2015
New Delhi
 

INDIAN PORTS IN FOR RS.6,000 CRORES PROFIT BY CURRENT YEAR: GADKARI
 

Minister of Road Transport, Highways & Shipping, Mr. Nitin Gadkari on Saturday announced that the profitability of the Indian port sector by the end of current year will be around Rs.6,000 crores which the NDA government will invest to create assets to spur up growth.
 

While addressing the Session on ‘Smart Businesses through Smart Infrastructure’ at the 110th Annual Session of PHD Chamber of Commerce and Industry here today, Mr. Gadkari also disclosed in the next five years the contribution of highways and shipping sector to national GDP would rise to 2% from current in significant level. With the roads, highways and shipping contributing to 2% of national GDP by 2020, the sector would be able to create 50 lakh employment opportunities, said Mr. Gadkari.
 

The Minister pointed out that port sector in India had in the last few decades never registered any profit but with the NDA government in place, those responsible to manage and handle the port sector were categorically told to improve their performance to stay on to their jobs as a result, the profitability of the port sector has been in advance measured at about Rs.6,000 crores by the end of current year.
 

Mr. Gadkari also said that infrastructure sector in India would witness massive changes and transformation in next few years as by then many four lane roads and highways would be converted into a eight lanes as also a large number of national highways be turned into express ways.  Necessary permissions and approvals for undertaking such assignments have been completed, said the minister adding that the bill relating to making 111 water ways is pending in the Parliament and hoped that it would be cleared in the current winter session of the Parliament.
 

He also called upon industry to participate in making dry ports as India’s 14 states have the potential for such ports for which the willing land owners would have to give their land on which the proposed ports would be built to reduce the logistics and transportation costs especially for imports and exports.
 

Thanking Mr. Gadkari for his participation in the 110th Annual Session of the PHD Chamber, the President, PHD Chamber, Mr. Alok B. Shriram hailed the initiatives such as Make in India, Digital India, Swachh Bharat Mission, Beti Bachao-Beti Parao and Sabka Saath Sabka Vikaas of the NDA government under the Prime Minister Mr. Modi and described them a move on right direction that will lead the country to the growth trajectory it has been aiming at.  He praised the minister for his pro-activeness that has amounted to implementation of projects languishing for approval.
 

In his vote of thanks, Sr. Vice President, PHD Chamber, Dr. Mahesh Gupta endorsed the sentiments expressed by Mr. Shriram adding that Mr. Gadkari is one of the highly rated council of ministers in the present dispensation who also inspires the industry.
 

ENDS.

Koteshwar Prasad Dobhal
Consultant (PR)