Don't need China or Chinese investments: Nitin Gadkari


    Gadkari’s statement assumes significance after India said that it will not allow Chinese companies to participate in highways projects, including those through joint ventures, amid the stand-off with China at the line of actual control in Ladakh.

    Indian companies fully capable, we don't need China: Nitin Gadkari
    The government will ease financial and technical conditions for Indian companies to bid for roads and highways, to help them meet the guidelines without any support from Chinese investors, said Union minister Nitin Gadkari, in an interview to ET Now.

    Gadkari’s statement assumes significance after India said that it will not allow Chinese companies to participate in highways projects, including those through joint ventures, amid the stand-off with China at the line of actual control in Ladakh.

    “We have taken a decision and we will formulating a policy soon. We will relax the conditions for the technical and financial qualifications for the infra projects,” said the minister. Gadkari also allayed fears that infrastructure sector will see a funding crunch if Chinese investments are not allowed.

    “Indian infrastructure is not dependent upon Chinese investments. We are getting investments from the whole world. Nobody wants to deal with China globally. The reluctance of nations to deal with China can benefit India immensely” the minister said.

    Gadkari made a case for Industry to reduce excessive reliance on imports and focus on Atmanirbhar Bharat. “Indian companies are fully capable and they don’t need China or Chinese investments. There’s no rocket science. We need to find a way out without compromising quality. Our Indian industry should use this time to update their technology and increase cost competitiveness”, the union minister added.

    The union minister pledged support to the Indian automobile industry and said the government will give necessary support for Make-in-India mission.

    “Bajaj and TVS are exporting 50% of their products. We expect the same from the auto industry. Initially, Indian products may not be competitive but slowly when they standardize their production and increase productivity, we will increase competitiveness. It is time for Indian industries to find a way out in terms of all products we are importing from China” Gadkari added.

    Batting for scrappage policy in the automotive sector, the road transport minister, said the policy will be cleared soon, “We are in the final stages of rolling out scrappage policy. Scrappage policy will improve the availability of raw material, recycling. Scrappage policy will help the automobile industry reduce the cost”.
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    10 Comments on this Story

    Pramendra Khokher30 days ago
    If policies updation also keeps pace with announcements, some effects will begin to show up as businesses take time to change course.
    Businesses have to take a lot of factors into account before effecting change. Being left out in the cold by Covid & the government giving only token support while pressing hard for its own taxes at every point, making salaries legally payable & only access to funds being transferred expensive loans being dangled by banks & NBFC’s, change will take time.
    First, everyone else except the Government has to survive. The uncertainty in the markets & life in general has not ended yet. Once there is clarity forward, Indian business will go forward, as it always has when the government is not looking. As soon as the government looks, things start getting difficult & uncertain. Why so & can they not remedy that ? If that happens, everything else will sort itself out fast thereafter, as Indian businesses are the most nimble on their feet, if not disturbed.
    AK 30 days ago
    Only saying does not matter, bring business friendly policies.
    Sain Pries30 days ago
    Once upon a time this completely untrustworthy and untreatable minister Gadkari was very ambitious on it's Electric Motor Vehicle program with the help of the Chinese investors and Chinese lithium battery manufacturing plants for EMV project... Now from where this Feku minister is planning to acquire the lithium battery or just he shelved the entire EMV project???Please don't misguide and misled the Indian people about the Failed Make in India project.. And please let the market forces play independently for the progress of the Indian Industry... Because your government's frequent policy changes and unwarranted interference in the economy has completely destroyed and devastated the Indian economy.. Let Indian Industry procure or import their raw materials or intermediate products according to their planning...You Politician please leep keep border clash issue to the border level only just to fulfill your ego and arrogance by misleading the public on fake Nationalism... Let the industry work independently and freely without your Foolish interference..
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