India will be on faster growth path fuelled by infra: Nitin Gadkari

Addressing an online event organised by industry body ASSOCHAM, Union Minister Nitin Gadkari mentioned that India needs to spend around USD 1.4 trillion on infrastructure  to achieve the GDP of USD 5 trillion by 2024-25. 

Gadkari criticised steel and cement companies for fixing up market prices and exploiting people. A committee is being set up under K Venkataramana in order to reduce the dependency on steel and cement by looking for alternatives, hence reducing the cost of construction.  

“I am very much worried about the attitude, approach and behaviour of steel and cement industry,” said Gadkari. 

Gadkari stated that all steel – whether produced from ore, billets, pellets, or melting of scrap – would be allowed to be used for National Highway construction, as long as it meets the standards required for specific grades of steel.

From now onwards, steel proposed to be used on various projects would be tested in NABL-accredited laboratories as a third party approval.