Home / News / India /  Infrastructure key to boost Indian economy: Karnataka CM
Listen to this article

NEW DELHI: The Union government's efforts to boost the domestic infrastructure sector will also help expand the Indian economy. New policies announced by the Centre will ensure the time-bound creation of world-class infrastructure in the country, making it India’s new identity globally, said Basavaraj Bommai, chief minister, Karnataka.

Delivering his inaugural address at the 11th edition of CII EXCON, South Asia’s largest construction equipment trade fair organised by the Confederation of Indian Industry (CII), Basavaraj said the construction industry will contribute in a major way to make India a $5 trillion economy.

To achieve this goal, the government has envisaged infrastructure and industrial projects worth 100 trillion.

Bommai said Karnataka presents huge business opportunities for the construction industry, as it is embarking on major infrastructure development projects in roads & flyovers, industrial infrastructure and power.

“India is an emerging hub for construction equipment, component outsourcing base and design base. The private players in the construction industry must concentrate on automation, adoption of advanced technologies and global best practices, usage of alternate fuels, and innovations in using waste materials as raw materials for their construction projects to diminish the cost of construction and rate of pollution," said V K Singh, Minister of State for Road Transport & Highways, who was present at the event.

Deepak Shetty, Chairman of CII EXCON, said, “…India must become less dependent on imports to build large scale infrastructure projects, roads, ports, etc. Hence, developing and embracing technologies is crucial so that we can expand our innovations and become an export hub globally. The three key strategies that will help us to fast-track developments are - focusing on new growth drivers, understanding the significance of rural economy and curate a roadmap for alternate fuels."

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Recommended For You
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout