Rs 50-60 lakh crore foreign investment is needed in the country - Nitin Gadkari

NEW DELHI: India needs foreign direct investments worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of coronavirus-hit economy, according to Union minister Nitin Gadkari.

Emphasising that at this juncture Foreign Direct Investment (FDI) is the need of the hour, the senior minister said such funds would benefit the country as there is a need for pumping in liquidity into the market.

"Country at this juncture needs liquidity. Without liquidity our economy's wheel will not accelerate... Rs 50-60 lakh crore foreign investment is needed in the country under present circumstances to boost the economy," the Road Transport, Highways and MSME Minister told PTI in an interview.

Infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from Micro, Small and Medium Enterprises can attract large scale foreign investment, he noted.

Gadkari further said that talks are on with investors from Dubai and the US for various sectors, including MSMEs.

"Some MSMEs are already listed on the BSE. I have talked to investors in Dubai and the US to come and invest in such MSMEs based on their three-year turnover, GST track record, IT record and good rating. Investing in these can result in rich dividends as these do exports also," he said.


Besides, the minister said that 22 green highways were being build, including the Rs 1 lakh crore Delhi-Mumbai Expressway on a new alignment.

PTI