India In Lookout for Joint Ventures Partners for 360 Ropeway and Cable Car Projects Worth USD 7.93 Billion

ENA Sectors 2024-10-25 14:34:11 New Delhi, Oct 25 (KNN) Union Minister for Road Transport and Highways Nitin Gadkari announced that India has 360 ropeway and cable car projects in the pipeline, valued at a staggering USD 7.93 billion. The minister made the statement while addressing the event titled Financing of Cutting-Edge Products from Germany, Austria, and Switzerland held in the national capital. Gadkari emphasised Indias focus on infrastructure expansion, including the construction of over 300 tunnel projects across the country. He extended an invitation to companies from Germany, Austria, and Switzerland to collaborate through joint ventures, underscoring the need for cost-effective solutions. My suggestion is that you form joint ventures. Indias per capita income is still relatively low, which limits affordability for many citizens. We must work to make these projects economically viable by reducing costs, Gadkari said. The minister highlighted that the success of these projects hinges on economic feasibility, which is crucial to attracting investment and meeting public needs. We are happy to see ropeway projects worth nearly $8 billion. However, it is important to make them affordable to ensure their economic viability, he remarked. Gadkari reiterated his openness to suggestions for solving challenges in infrastructure development. India has vast potential—sky is the limit. I am open to your ideas, and together we can find solutions to any problem, he said, addressing foreign delegates. The minister also stressed the importance of balancing development with environmental sustainability. In road construction, we are employing many new technologies to promote both economic development and environmental protection, he noted. As part of the governments vision, Gadkari emphasised the need to standardize policies and promote domestic manufacturing of ropeway components under the Make in India initiative. By boosting indigenous production, the goal is to create affordable and locally sourced solutions without compromising safety standards. The future of Indias ropeway industry lies in cost-efficient, home-grown technologies that can meet safety standards while remaining financially sustainable, he said. Gadkaris remarks reflect Indias growing ambition to modernize its transport infrastructure and attract international expertise while encouraging local innovation. With an eye on economic sustainability and environmental care, the country aims to set new standards in the ropeway and cable car industry. (KNN Bureau) 39706 https://knnindia.co.in/news/newsdetails/sectors/india-in-lookout-for-joint-ventures-partners-for-360-ropeway-and-cable-car-projects-worth-usd-793-billion 2024-10-25 14:34:11 knnindia.co.in India In Lookout for Joint Ventures Partners for 360 Ropeway and Cable Car Projects Worth USD 7.93 Billion