Projects worth US $602 billion underway as part of National Infra Pipeline

At a special session during the CII Partnership Summit 2020, Union Road Transport Minister Nitin Gadkari said that projects worth US $602 billion are under implementation as part of the US $1.5 trillion National Infrastructure Pipeline (NIP) to be spent by 2024-25.

December 15, 2020

The NIP is a first-of-its-kind exercise to provide world-class infrastructure across the country and improve the quality of life for all citizens

Reforms such as reduction of corporate tax rates, tax exemption to investors, and implementation of GST have positioned India as a competitive market

The Government is committed to 100% adoption of the electronic toll system, and has successfully implemented an electronic toll tax

Infrastructure development has been a big priority for the government, with several investments and alliances being launched in the recent past

While speaking at a special session during the CII Partnership Summit 2020, Union Road Transport Minister Nitin Gadkari said that India holds huge investment opportunities in its infrastructure sector where projects worth US $602 billion are under implementation as part of the US $1.5 trillion National Infrastructure Pipeline (NIP) to be spent by 2024-25. At the event, organised by the Confederation of Indian Industry (CII) in collaboration with the Department of Promotion of Industry and Internal Trade (DPIIT), Mr Gadkari further added, “The National infrastructure Pipeline (NIP) is a first of its kind exercise to provide world-class infrastructure across the country in an effort to improve the quality of life for all citizens.”

Speaking on taxation and restructuring reforms, Mr Gadkari noted that reforms such as reduction of corporate tax rates, 100% tax exemption to investors, and implementation of GST have positioned India as a competitive market in the world, particularly in terms of ease of paying taxes. While highlighting the importance of digitalisation in the new age, Mr. Gadkari stated that the Government is committed to 100 per cent adoption of the electronic toll system. In this context, he highlighted the role of industry in the successful implementation of electronic toll tax.

Infrastructure development has been a big priority for the government, with several investments and alliances being launched in the recent past. On August 9, 2020, PM Narendra Modi launched a new central sector scheme for financing under the Agriculture Infrastructure Fund worth US$13.4 billion. In November 2020, PM Modi inaugurated a six-lane widening project of the Varanasi-Prayagraj section of NH-19. He also laid the foundation stones of various development projects in Varanasi, including healthcare facilities, sewerage related work, Varanasi city smart lighting etc. In late December 2020, the nation’s first driverless train line, set to run on the Delhi Metro Magenta line, was inaugurated by PM Modi as well. 

These are only a few of the many infrastructure initiatives launched by the government. Mr Gadkarni further added that the government is committed to provide a favourable environment and a transparent policy framework for investors, making India a hub for global investments.