Gadkari Advocates Dedicated Financial Platform for Maritime Projects

Union Minister Nitin Gadkari on Monday called for the establishment of a dedicated financial platform to support maritime sector projects, aiming to stimulate economic development and job creation across the country.

Gadkari, who formerly oversaw the shipping and ports sectors, expressed optimism about reducing logistics costs to single digits by December, attributing this to enhancements in road infrastructure. He noted that while funding is not a challenge for the National Highways Authority of India (NHAI), the execution speed on road construction remains a concern.

To address the maritime sector's financial needs, Gadkari suggested forming an institutional finance arrangement, similar to the Power Finance Corporation in the energy industry, to support maritime project viability and foster trust through transparency, decision-making speed, and anti-corruption measures.