Latest News | Indian, US Companies Should Form JV for Futuristic Technologies: Gadkari

New Delhi, Sep 26 (PTI) Union Road Transport and Highways Minister Nitin Gadkari on Tuesday said that Indian and the US companies should form joint ventures to develop futuristic technologies.

Addressing the 20th INDO - US Economic Summit, Gadkari said that India should produce bio-aviation fuel.

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"India is the fastest growing major economy...We should make joint ventures with the USA to develop futuristic technologies," he said.

Gadkari said the Indian workforce is very competitive and the majority of the countries are keen to deal with India.

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The minister said the government is working on developing electric highways between Delhi and Jaipur.

Electric highways cater to electric traction for vehicles in the same manner as is done for railways. This is based on prevalent technology in a large number of countries like Sweden and Norway.

This involves the provision of power cables, which can be utilised by a vehicle which caters to this type of technology. The vehicle will utilise the power from this cable for its traction. At present, the ministry is evaluating various technologies. The minister also expressed confidence that India will become the largest automobile market in the world.

At present, the size of the Indian automobile industry is Rs 12.5 lakh crore. Gadkari also said that the government is also working to bring down logistics costs to 9 per cent of GDP in the next three years from the current 14-16 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)