Govt trying to attract FDI in infrastructure sector: Nitin Gadkari
Jul 29, 2020
New Delhi [India], July 29 : The Central government is making efforts to attract foreign direct investment (FDI) in the infrastructure sector, Union Minister Nitin Gadkari said on Tuesday.
Addressing a webinar on road development in India, Gadkari said, "We are trying to get FDI (foreign direct investment) because in infrastructure 100 per cent FDI is allowed."
The road transport, highways and MSME minister also said that talks are on with various pension funds, insurance funds and financial institutions.
"We are trying to get Insurance Fund, Pension Fund and dealing with the World Bank, ADB, BRICS Bank... We are moving very fast in this direction," he added.
India had earlier revised its FDI policy with the objective of preventing "opportunistic takeovers" of firms hit by the lockdown induced by the COVID-19 outbreak.
