Industry And Cluster | News & Insights

Infrastructure helps the economy spur

Published: September 14, 2020
Author: G.Thulessiraman

A valedictory session was held, named “BITU-CON 2020: Bitumen and Road Construction Industry” organized by FICCI. This session helped many people think about the infrastructure in India. In accordance to this session the Union minister- V K Singh said that the Indian road infrastructure sector has potential to spur economic growth. He also said that such innovative ideas shall be bought up by various construction players. The plan shall mainly include ways to make cost efficient road construction.

The Ministry of State for Road transport and Highways said that there is need t encourage more innovations and experimentation in infrastructure development. Singh said in a statement which was quoted by the FICCI that, “This sector has a lot of potential and is profitable also. Things are improving in the economy although it may take some time for complete recovery. The more we construct the better it is going to be for the economy.”

It is believed that the infrastructure sector will help the economy spur as the Indian road infrastructure and highway constructions which also includes the equipment and materials will play a major role in spurring the economy. Various companies were urged to come up with innovative ideas which shall be cost effective in nature in order to gain help and support from the government.

Singh also added, “We have enough expertise, innovative spirit, know-how to make things better and this sector needs it. Indians have a great ability for innovation, but we are somehow not coming out with it. Innovation and experimentation should be encouraged in the industry to bring down the cost.”

He also explained the 2 types of cost saving, one is immediate cost saving and the other one is life-time cost-saving. Even though the plan is of making cost effective plans, it is believed that the outcome shall be of good quality and due to cost reductions the quality shall not be compromised.

At the end he said that the growth of the infrastructure shall not be restricted to Indian roads, other plans and innovations which are not related to building of roads are also welcomed.

NEWS REPORTED BY:

VRIDHI BHAGNARI.

Related Posts

Tech Timeout Turns Green: Oakridge Students E-Fast and Cultivate Bottle Biospheres

Non-Life Premiums Muted Growth Continues in Nov; Growth in Health Slows, while Motor OD Pick-ups