Addressing the 120th annual session of the PHD Chamber of Commerce and Industry, he said the highways ministry would get Rs 15 lakh crore if it monetizes its road projects.
Gadkari said construction of expressways and economic corridors has helped reduce the country’s logistics cost to 10% from the earlier 16%.
“India’s logistics costs will come down to 9% by December, which will help India become more competitive,” he said.
Logistics cost is 12% in the US, 12% in European countries and 8-10% in China.
Talking about India’s automobile sector, the minister said, ‘Within five years we aim to make India’s automobile industry number 1 in the world.’ He said, “When I took charge as Transport Minister, the size of the Indian automobile industry was Rs 14 lakh crore which has now increased to Rs 22 lakh crore.” Gadkari said the automobile sector provides employment to 400,000 youth and provides the highest amount of goods and services tax to the Center and states. The US automobile industry is the largest in the world, at ₹78 lakh crore, followed by China (₹47 lakh crore) and India (₹22 lakh crore). The minister said India’s dependence on fossil fuels is an economic burden, as ₹22 lakh crore is spent annually on the fuel. imports, and an environmental threat, making the adoption of clean energy crucial for the country’s progress.
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