Industry told to come forward and face challenges
India needs to develop a lot of things like skilled manpower, infrastructure, better roads, manufacturing capabilities over the next five years to turn its automobile industry into an international manufacturing hub.
Sharing his thoughts on such industry developments, Minister of Road Transport and Highways Nitin Gadkari stressed on the need to connect Ports, Airports, Industrial Clusters and big industries to reduce logistics cost.
Gadkari shared his industry outlook at the CII’s ‘Digital Exhibition on Construction Equipment’, noting issues and challenges faced by all industries and the country.
“In the next five years, the Automobile industry will play a key role in India’s economy and become a manufacturing hub in the world. (But) to achieve that we need to develop a lot of things like skilled manpower, infrastructure, better roads, manufacturing capabilities,” said the Minister confident of capturing a significant share of the global automobile market.
He called on stakeholders to come forward and face the challenges in the current environment and disruption.
He informed of the plan on the connectivity of ports, airports, industrial clusters and big industries, this will enable to reduce the logistics cost.
“There is a plan to develop waterways sea transport, Road infrastructure, railway infrastructure and aviation.”
Gadkari said that it is the time for all to prepare the industrial infrastructure in a way by which “we export more and ensure quality products with international standards”.
To do this he requested that the industry should give priority to more research and find solutions that are available within India.
He underlined the importance of digitalization, which many countries are already moving towards. “Innovation and Technology will play an important role in the development of our country to be self-reliant – Aatma Nirbhar Bharat.”
Gadkari also highlighted 22 Green Express Highway being constructed for better mobility and logistics. The Delhi-Mumbai Express Highway, when completed, will reduce trucking time to 28 hours from end to end from the current 3-4 days.
Gadkari has requested the Finance Ministry to help with tax relief and incentives industries setting up technology, training and research centres in the country.
The Minister conceded that more investment in technology is needed to upgrade and accelerate the process of road completion from the present 30-km per day to 60-km.
He acknowledged the funding crunch and pointed out that the Government is actively finding avenues to ensure that the projects are not delayed.
The Government is also keen to attract foreign investment and requested the stakeholders to help mobilize investment through FDI in the construction sector.
On the Development of the Components Industry in India, he informed that the Government is working to increase the duty on component imports while the industry should stay focused on manufacturing components locally under ‘Make in India’ scheme.
The industry should collaborate with IIT’s and Engineering Institutes to setup Technology Centres. Develop components and its material with the help of Technology Centres, IIT’s and Engineering colleges, said Gadkari, adding that a scheme is being created to promote technology centres under the MSME scheme.
Speaking at the event, CII President-Designate, T V Narendran noted that the Indian manufacturers of capital and construction equipment really need to be encouraged.
He also underlined the importance of digital initiatives, adding these were more profoundly understood over the past three months.
The virtual Exhibition on Construction Equipment Industry (DiECE 2020), being held 18 August to 17 November, is demonstrating that “digital becomes a way of life and it also helps us improve our effectiveness,” said Narendran, also CEO and Managing Director of Tata Steel.
DiECE 2020, India’s Only Virtual Exhibition Platform for the Construction Equipment Industry organised by the Confederation of Indian Industry (CII), demonstrates the role of Virtual Platform Showcase and Sourcing of Construction Technology for infrastructure growth in the country.
More than 130 participants under 30 different product categories showcasing 1,000 plus products are on display are participating in the three-month online event from 18 August to 17 November 2020, said CII in a release on 19 August 2020.
The virtual Expo is hosted on the CIIHive platform, features Exhibitions, Conferences, Seminars and B2B meetings to a sizeable audience. It is expected to attract 7,500 buyers over the next 12 weeks.
In the concluding remarks, ICEMA President Sandeep Singh noted business opportunities from Rs.100,000 crore on National Infrastructure Pipeline, Rs.5 lakh crore on Road Projects and the 22 Green Express Highways. #highways #roads #infrastructure #developments #finance #banks #investments /fiinews.com
