Logistics summit sees Rs 2 lakh crore investment pacts: Nitin Gadkari

NEW DELHI: Investment pacts worth Rs 2 lakh crore have been inked at the maiden integrated logistics summit, Union Minister Nitin Gadkari said today, pitching for a holistic approach to spur infrastructure growth.

Of the total 34 investment pacts committed, more than 15 pertain to setting up multi-modal logistics parks by state governments along with National Highways Authority of India ( NHAI), National Highways Infrastructure Development Corporation ( NHDICL) and Container Corporation of India.

Agreements for port connectivity and land ports were also inked.

"The need of the hour is to come out of silos and join hands for an integrated approach to spur infrastructure growth. Maiden logistics summit in this regard has garnered investment pacts worth Rs 2 lakh crore," Road Transport and Highways Minister Gadkari said here.

The minister said the Rs 2 lakh crore investment committed via 34 MoUs was "just the tip of the iceberg" as the ball has been set rolling after the first mega step of integrating various departments.

Addressing the three-day India Integrated Transport and Logistics (IITL) Summit, the minister said unlike the past, various ministries have joined hands for an integrated approach to boost infrastructure, which in turn would bolster exports and augment the economy.

"Why can't we develop integrated logistics solutions whether by rail, road or water so that our beautiful flowers from Sikkim reach the world market, oranges from Nagpur, Alphonso from Konkan, Litchi from Bihar, grapes from Nasik and apples from Himachal dominate the world market," Gadkari said.

He said after brain-storming by various ministries, a policy could be evolved and sent to the Prime Minister or the Cabinet for approval.