Right Time To Invest In India: Minister Nitin Gadkari Tells Global Leaders At World Economic Forum

Davos: Showcasing India growth story before global business leaders in Davos at the World Economic Forum annual meeting, senior Union Minister Nitin Gadkari today said that the time is appropriate and opportune for investing in India.

Mr Gadkari, who is the Minister for Road Transport and Shipping, said India is working on record road construction projects and there are no problems relating to land acquisition and environmental clearances.

The port sector is also growing at a fast pace and six new ports are being developed in India, which is also focusing big on cruise tourism. Inland riverway is another key focus and work has started with the Ganga, he said.

"We have some new plans, including for logistics parks on highways," Mr Gadkari said, adding that agriculture has become a key priority.

"We are very friendly for investments and it is appropriate time to invest in India," he said while adding that the country is also working on ways to improve purchasing power of common men as that will present further opportunities.

He was speaking at a breakfast session organised by CII and BCG on the sidelines of World Economic Forum Annual Meeting 2017.

Mr Gadkari asserted that the demonetisation move will help strengthen the economy and  encourage more investments.

"There were some problems initially, but things have improved significantly now and within a month, every thing would be completely normal," he said.

Digital payments have helped a lot, including on toll collections that have gone up, he added.

At the same session, Union Minister Nirmala Sitharaman said India has great opportunities in the services sector which contributes more than 50 per cent to our GDP and there is a great potential this year.

According to Ms Sitharaman, the services sector will remain the focus area for India in all its trade negotiations at regional, bilateral and global levels.

She said India is setting standards that would help check of inferior goods coming from any country, let alone China.

She also criticised non-tariff barriers being put up by some countries and is of the view that questions need to be asked at global summits like the World Economic Forum.