Indian Economy News

21st century India is for wealth creators, says PM Narendra Modi

  • IBEF
  • June 21, 2022

The building of roads, railroads, ports, and airports, Prime Minister Mr. Narendra Modi stated on June 20, is not enough for progress in the twenty-first century. For seamless multi-modal connection, these modes of transportation must complement one another, he stressed.

Mr. Modi stated that last-mile connectivity is vital for both ease of living and ease of conducting business while speaking at the inauguration of infrastructure projects worth Rs. 27,000 crore (US$ 3.46 billion) in Bengaluru. The road and railway projects will be extremely beneficial in this regard.

The Multi-Modal Logistics Park (MMLP) near Bengaluru, which cost Rs. 1,800 crore (US$ 230.82 million) to build, was inaugurated by Mr. Modi. According to a government statement, it will aid in the reduction of transit, handling, and secondary freight expenses.

The Centre wants to establish 35 MMLPs in the first phase of the Bharatmala project over the next five years to provide faster and cheaper logistics opportunities, for which real-estate consultancy CBRE was recently hired as the advisor.

According to a government release, the four-laning of portions of two national roads would improve connection to important ports in Chennai, Mangalore, and Krishnapatnam, while three additional highway projects will enhance passenger and commercial mobility in Bengaluru.

"India in the twenty-first century is a land of wealth producers, job creators, and inventors. As the country with the largest population of youth, this is our true power," Mr. Modi stated.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.