Union Minister Nitin Gadkari, speaking at the Business Today Mindrush 2025 forum, emphasised the need to boost rural and agricultural growth to accelerate India’s overall development. He highlighted the rapid growth in India's connectivity through roads, rail, and ports and predicted that bringing logistical costs down would increase the country's export competitiveness amid global trade and tariff wars.
Gadkari elaborated on India’s ambitious infrastructure projects, including the construction of 36 green express highways aimed at reducing logistics costs from 14-16 per cent to around 9 per cent, which would enhance India’s export competitiveness. He highlighted the successful monetisation of road projects worth Rs 5 lakh crore and assured that the government has no shortage of funds, only a need for faster execution.
Gadkari also stressed the importance of making agriculture economically viable by promoting biofuels, bio-bitumen, and other alternative energy sources. He cited successful experiments in converting corn to bioethanol and rice straw to bio-CNG, which have not only increased farmers’ incomes but also reduced India’s dependence on fossil fuel imports.
Gadkari elaborated on India’s ambitious infrastructure projects, including the construction of 36 green express highways aimed at reducing logistics costs from 14-16 per cent to around 9 per cent, which would enhance India’s export competitiveness. He highlighted the successful monetisation of road projects worth Rs 5 lakh crore and assured that the government has no shortage of funds, only a need for faster execution.
Gadkari also stressed the importance of making agriculture economically viable by promoting biofuels, bio-bitumen, and other alternative energy sources. He cited successful experiments in converting corn to bioethanol and rice straw to bio-CNG, which have not only increased farmers’ incomes but also reduced India’s dependence on fossil fuel imports.
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00:00Ladies and gentlemen, for the Business Today Best CEO Awards,
00:05we were absolutely certain that there was only one person we had in mind as our chief guest to give the awards to,
00:12which was Nitin Gadkari ji.
00:14And Gadkari ji said he's not free on the 21st and he's only free on the 22nd.
00:19So we switched the entire award ceremony by one day because that's how keen we were to have Gadkari ji with us.
00:25And he's made a special effort to come down from Amravati.
00:28So we are very thankful. Thank you very much.
00:30He has received one of the very prestigious awards today.
00:34The first Agriculture Minister of India, Dr. Punjab Rao Deshmukh.
00:39And from there he has joined us here.
00:41Take the award in the morning and give the award in the evening.
00:43Dr. Gadkari, welcome. It's great to have you with us.
00:46Sir, before we get to the award ceremony, which is why we are all here,
00:50I want to ask you about the Alpha.
00:52Because India's growth is at 6-6.5%.
00:56Modi ji's vision is to make India a developed country by 2047.
01:01That requires a real GDP growth of 8.5%.
01:04You always have innovative, out-of-the-box ideas.
01:07So if you were asked what the government can and should do to achieve the extra 2-2.5% of India's growth,
01:12which is in our potential but is not happening in the next 10-11 years,
01:19what would your answer be, sir?
01:21In our country's growth, 65% of the population is rural.
01:27It's from rural India.
01:29And they contribute only 12% growth.
01:31In the growth, their contribution is only 12%.
01:34First of all, it is the first priority for the government
01:38how we can make our agriculture and rural India economically viable by creating more jobs.
01:46Now today, in my own department, we have already successfully implemented a lot of experiments.
01:54First of all, in this year, the rate for the corn is going up to 2800 rupees per quintal.
02:01Previously it was 1200.
02:04And the MSP for the corn was 1800.
02:07It is only because of that the government has started making ethanol, bioethanol from corn.
02:13Now the problem is that we have just completed the project successfully by making bio-bitumen.
02:21There are 400 projects in India already in the process, out of which 60 have already started.
02:27And from Perli, popularly known as Perli, but it is rice straw,
02:31they are converting bio-CNG, getting bio-CNG with the by-product is lignin.
02:37And just eight days before, I had a big meeting with the Petroleum Minister,
02:42with the Non-Conventional Energy Minister, all oil companies' chairman,
02:47the Central Research Road Organization, with the cooperation of Praj.
02:52We have implemented one project in Nagpur-Jabalpur Road,
02:56adding bio-bitumen into the petroleum bitumen, and it is successfully implemented.
03:01And the Central Research Road Organization has given the report
03:05that is proved to be 50% better than petroleum bitumen.
03:11So the idea is our farmers will not only be annadata, they will be urjadata,
03:18they will be indandata, they will be hydrogen data.
03:22Even now there are a lot of things that diversification of agriculture towards energy and power sector,
03:28the thing will change. And my estimate and my expectation is,
03:32within two years, our agriculture growth rate will be increased up to 20%.
03:38And what is the reason? Because we have the import of the fossil fuel of 22 lakh crores.
03:45And my mission from 2004, I am talking about the bio-fuel and alternative fuel.
03:51And today, I am very much confident because of the success story,
03:55that we will get the success and it will be the, at least, it is most important boost
04:02to the agriculture rural economy, which is going to reduce our import.
04:06And the policy is import substitute, cost effective, pollution free and indigenous.
04:11At the same time, we are also working on a lot of particularly project creating irrigation,
04:17more irrigation in the country. And my feeling is, the dream of Prime Minister
04:22is to make Indian economy of five trillion dollar.
04:25And at the same time, make India third largest economy in the world.
04:29Our agriculture rural economy is very, very important.
04:33We need to have the best successful technology available in the world,
04:36on gel, jameen, jangal and janwar.
04:39And I am confident that the way in which our government is working,
04:42when agriculture growth is going to increase, going to create more jobs in the rural sector,
04:48it is going to boost our economy and that is, we will make the Atman Nirbhar Bharat.
04:53And that is very important, which I feel.
05:18The basic problem in Indian economy is our logistic cost is 14 to 16%.
05:44And I am telling you with confidence, you will see after two years,
05:49our port connectivity and green express highway which is being built,
05:53from Delhi to Mumbai, it will be almost completed in 12 hours.
05:58And from Virar to Virar, we are connecting and this coastal road will come to Virar.
06:03Now from Chennai to Bangalore, within three months, it will be in two hours.
06:08Delhi to Dehradun, it will take nine hours, it will be in two hours.
06:12Delhi to Jaipur, it will be in two hours.
06:14Like this, we have 36 roads.
06:16From Chennai to Surat, our road work has started, a lot of packages have been completed.
06:21Now I am making Bangalore from Mumbai.
06:23I will assure you within six hours,
06:26from JNPT to Atal Bridge, we have made a new road,
06:30which will become Pune Express Highway.
06:32And it will go directly from Pune Ring Road to Bangalore in six hours.
06:36So because of this, roads will be good and fuel will change.
06:41Because of alternative fuel and bio-fuel, costs will be reduced.
06:46Now construction equipment has also come on electric.
06:49And hydrogen has also started.
06:51So I think that logistic cost, which is the most important thing,
06:56which was 14 to 16 percent, if it comes to 9 percent,
07:00then our export, my estimate is that it will increase by at least 1.5 times.
07:04We will be almost as competitive as China in the world.
07:08And the majority of the world wants to deal with us.
07:11And our exports will increase in this.
07:13And we will get a good response.
07:15Sir, but there is a concern here.
07:17On one hand, you are doing a lot of investment on infrastructure.
07:21And you said that you don't make a mega plan, you do it directly.
07:24But along with that, road safety and the biggest thing,
07:28maintenance is the biggest issue at this point of time.
07:31Many companies think about what will happen to maintenance.
07:35The road has been made.
07:36That is the biggest problem in today's situation.
07:38You may not have read the news in the newspaper in so much time.
07:41I have blacklisted 20 companies that collect tolls for 2 years.
07:47And now I will blacklist big contractors,
07:52I will file a fine and I will send some people to jail.
07:55As far as the quality is concerned, I am not going to compromise with it.
07:59But one thing is important.
08:01When new technology comes,
08:03there is trial and error.
08:06So sometimes there are some problems,
08:08but we have to check whether the mistakes are bona fide or malafide.
08:12And I just signed on the file yesterday
08:15that we are mandatorily doing precast on all types of maximum items on the national highway.
08:23They will not be made on the site.
08:25So gradually bridges, tunnels,
08:28We are planning a tunnel worth 3 lakh crores this year.
08:32We are building 105 tunnels in Jammu and Kashmir.
08:35And now in the tunnel,
08:37like we have a problem that we can't talk about publicly,
08:40there is a shortage of tunneling machines.
08:42And those who used to bring it, they don't give spare parts.
08:44So I went to Spain.
08:46So there was an underground tunnel in Spain.
08:48I took a meeting from the people who had tunnels there.
08:51So I said, bring your machines to India and give them on rent.
08:55I will give you work.
08:56So there are many problems.
08:58But we will definitely be successful in that.
09:03There will be no problem.
09:27And the impact that can potentially have on Indian automakers,
09:31given your government's push towards Atman Nirbhar Bharat
09:34and encouraging Indian companies and others to manufacture in India.
09:57China has 14.9 lakh crores.
10:00And the way our automobile industry works,
10:0450% of their two-wheeler is exported.
10:07Now this electric is also going to be exported.
10:09When we started the price of lithium-ion batteries,
10:13when I used to speak, people used to ask me,
10:16in your program,
10:17that if the electric vehicle stops on the road,
10:19will you be able to push it?
10:21Now the situation is such that
10:23$150 per kilowatt per hour has come to $100.
10:27And in the world, I believe that
10:30almost all the companies that we have,
10:33their quality is continuously improving.
10:36Now we have the Bharat NCAP standard.
10:40Because of that,
10:41the world's cars are coming to India to be tested.
10:44And our cars are safe.
10:46And after this, our two-wheeler, three-wheeler,
10:49buses,
10:51will be exported on a very large scale.
10:54And in our industry, I hope that
10:56within five years,
10:58we will definitely,
11:00we have pushed Japan behind.
11:02Now Japan was at third place,
11:04we were at fourth place.
11:06Now Japan has gone to fourth place,
11:08we have come to third place.
11:10And the way our automobile industry
11:12is making quality products,
11:14new innovations are coming in technology,
11:17based on that, we are working on hydrogen.
11:19I believe that in the next five years,
11:22we will definitely become a leading country in the world.
11:26And we will definitely go to second place.
11:29And after that,
11:30it is not very difficult to go to first place.
11:33Because our cost is low.
11:35We have started scrapping of 15-year-old vehicles.
11:39Because of which,
11:40aluminum, copper, rubber, steel,
11:42there will be recycling.
11:44And because of that,
11:46the cost of our components will be 30% less.
11:49Similarly, we have started 150 scrapping centers.
11:52And on a large scale,
11:53old vehicles are being scrapped.
11:55So the cost will be less,
11:56and the quality will also increase.
11:58So definitely, our export will increase.
12:01Sir, you are talking about EVs.
12:03But on the other hand,
12:04we are seeing that some states
12:06are increasing taxes on EVs.
12:09So don't you think this is wrong?
12:11You are promoting that EVs should be there,
12:13and after that people are saying
12:14that taxes should be increased on EVs.
12:16So don't you think it is necessary
12:18to understand this a little bit?
12:19They also have a lot of problems.
12:21But that is completely contrary
12:23to what you are actually projecting.
12:26See, sir, it is the right of the state government
12:29to decide how much to put on which atom.
12:31They have their own problems.
12:33But overall, the Indian government
12:36has increased the GST by 48% on petrol and diesel cars,
12:39which is about 5%.
12:42In the near future,
12:44we are also requesting the Finance Minister
12:46to increase the GST on the flex engine,
12:48which will go 100% to the bio-tunnel.
12:50And in the near future,
12:51construction equipment is also coming.
12:53Hydrogen has been developed on a large scale.
12:56Many start-ups are doing a good job.
12:58I think,
13:00slowly,
13:02definitely,
13:03the UP government
13:04is now arguing
13:06that they have given more concessions
13:08on petrol and diesel cars.
13:09So the state-to-state will also continue.
13:11But overall,
13:12encouraging alternative fuel and bio-fuel
13:14is the overall role of the state-to-state government.
13:41There should be no freebies of this kind.
13:43Then the BJP came under populist pressure.
13:45And from Madhya Pradesh to Delhi,
13:47Haryana, Maharashtra,
13:48we saw the BJP also announce
13:50similar freebies.
13:51Now, we are seeing a pushback.
13:52The Telangana Chief Minister
13:54is in dire straits.
13:55The Himachal Chief Minister is in dire straits.
13:57Where we are in Mumbai,
13:58we have seen the Fadnavis government
14:00having to pull back on certain schemes
14:01because of how financially stretched they are.
14:03Do you see this as being a cycle?
14:06Will it end?
14:07Will there be a pullback?
14:08Or do you think
14:09it's a free-for-all downward slope
14:11and you are very worried about it?
14:12How can we pull back
14:13from the financial abyss?
14:38I was only 5 crores.
14:39I didn't have money.
14:41Then we went to the capital market.
14:43And instead of 500 crores,
14:45we got 1200 crores.
14:47I am talking about 1997.
14:49We got over-subscribed.
14:51And four months ago,
14:53I came to the Mumbai Stock Exchange
14:55in the Winnipeg model.
14:57Now, I am in a million times better condition.
15:00The NHI has a triple A rating.
15:02And you will be surprised
15:04that we launched
15:06and it was a 7-day time.
15:08In 7 hours,
15:10we got over-subscribed 7 times.
15:12I came running from Goa
15:14and immediately stopped.
15:16And now, when I will build a road,
15:18I have decided,
15:19you should also think about it,
15:21that I am going to build a road
15:23by taking money from the poor people of India.
15:25And I will give them
15:27a minimum of 8.05% interest
15:29on the deposit.
15:31Now, the share price of the Inuit model
15:33has become 140.
15:35So, I am telling them
15:37that if you deposit it in a bank,
15:39you will get 1.5%.
15:41We have a triple A rating.
15:43My total income is,
15:45presently in NHI,
15:4755,000 crores.
15:49And in the next two years,
15:51I will get 1,40,000 crores.
15:53And now, I have to monetize
15:55a road of 5,00,000 crores.
15:57The problem is,
15:59I have a budget of 2,80,000 crores.
16:01Now, I want to increase
16:03the speed of the project
16:05by clearing all these issues.
16:07Try to do it.
16:09There are some problems in it.
16:11There is no shortage of money.
16:13I have said this about my department.
16:15Why there is a shortage
16:17in the rest of the state government,
16:19you and I both know it.
16:21But why should I comment on it?
16:23I want to move this question forward.
16:25It comes to your department.
16:27You should decide
16:29the budget
16:31whether to do productive expenditure
16:33or unproductive expenditure.
16:35Do you want to create employment
16:37or distribute money?
16:39It is up to them to decide.
16:41Therefore, when there is productive
16:43expenditure, employment will be created.
16:45When employment is created,
16:47growth will be decided.
16:49And there is a lot of tourism here and there.
16:51We will give maximum priority
16:53to create employment
16:55and wealth.
16:57If we give more priority,
16:59people will benefit,
17:01the state will benefit,
17:03and the financial situation will improve.
17:05But politics is a game of compromises,
17:07compulsions, limitations and contradictions.
17:09You call me here
17:11because I have won.
17:13To win,
17:15I also have
17:17a lot of thoughts.
17:19Even if I don't win,
17:21it doesn't matter.
17:23Your thoughts are different.
17:25People say that if you talk about your thoughts,
17:27you will win many times.
17:29Do I win elections?
17:31I told my constituents publicly
17:33that I will run on my own terms.
17:35I will run with my convictions.
17:37I will work for those who vote for me.
17:39I will also work for those who don't vote for me.
17:41I have never compromised.
17:43I don't have a problem.
17:45I win every time.
17:47Next time, as long as I stay,
17:49I will win.
17:51People also like work.
17:53But sometimes,
17:55in politics,
17:57there are consequences.
17:59So,
18:01the competition starts.
18:03If someone says this,
18:05he says something else.
18:07It's a game of compromises,
18:09compulsions, limitations and contradictions.
18:11I shouldn't talk much about it.
18:13One of the freebies,
18:15which Rahul was mentioning a while back,
18:17is also about,
18:19as we saw in Maharashtra,
18:21toll roads were closed.
18:23You are never in support
18:25of closing down the toll
18:27on any of the roads.
18:29On the other hand,
18:31we are seeing that
18:33the toll is going to increase
18:35like in Mumbai, Nagpur and Samruti.
18:37How will you handle this?
18:39Will there be a demand
18:41to close toll roads
18:43for poll promises?
18:47Before April 1,
18:49I am going to declare
18:51a policy
18:53so that you will never
18:55ask about the toll
18:57and people will not object.
18:59I have got such a concession.
19:01So, you will bring a national policy?
19:03Yes, I am ready for it.
19:05You won't be forgiven,
19:07but you will have to pay.
19:09I won't say much now
19:11because the Parliament has started.
19:13But you will be happy.
19:15You were saying,
19:17Dr. Jayashankar,
19:19after listening to your answers,
19:21I feel you are the biggest age diplomat.
19:49You are having to deal with a lot of uncertainty.
19:51The theme of this conference is bookonomics.
19:53So, what do you think
19:55India Inc. should be doing at this moment
19:57to try and
19:59use this uncertainty
20:01and convert it into an opportunity?
20:03Look,
20:05there is a problem.
20:07And Dr. Jayashankar knows
20:09better than me.
20:11But there are some people who convert
20:13problems into opportunities.
20:15And there are some people
20:17who convert opportunities into the problems.
20:19The problem will continue.
20:21Dr. Jayashankar is capable of solving it.
20:23He will solve it.
20:25But let me tell you one thing.
20:27When I was a minister of MSME,
20:29I used to tell them one thing.
20:31Proven technology,
20:33economic viability,
20:35availability of raw material,
20:37and marketability of the finished product.
20:39If you provide world-class quality
20:41with proven technology,
20:43and your cost
20:45is competitive
20:47to compete in the world competition,
20:49then no matter what anyone does,
20:51our material is going to work.
20:53I am not giving any hints.
20:55I am not saying anything.
20:57But if the quality is best,
20:59if the design is good,
21:01then I don't think we have any problem.
21:03But there is a problem.
21:05How much duty
21:07and how much to invest in which country.
21:09I am getting people from MSME
21:11as well as industry people.
21:13Because people export in many countries.
21:17I think
21:19their problems will be solved.
21:21And I don't think people
21:23will be as scared as they are now.
21:25Always think for the best
21:27and prepare for the worst.
21:29That is to be the best policy.
21:31But I think
21:33there won't be much problem.
21:35Dr. Jayashankar,
21:37this is a good question.
21:39Mutual admiration society going over here.
21:41Ladies and gentlemen,
21:43can we have a very warm round of applause
21:45for Nitin Gadkari,
21:47for making the special effort
21:49of coming over here
21:51and for being our chief guest this evening.
21:53Thank you very much.
21:55Thank you so much.
21:57Thank you so much.
21:59Honorable Minister,
22:01I would like to request you
22:03to please be on the stage
22:05while I request Mr. Arun Puri,
22:07Chairman and Editor-in-Chief
22:09and the Minister.
22:21A huge round of applause
22:23ladies and gentlemen
22:25for Nitin Gadkari.