labels: industry - general, economy - general
Baalu asks global investors to capitalize on ''infrastructure revolution'' news
09 September 2005

Chennai: The union minister of Shipping, Road Transport and Highways, T R Baalu, on Thursday wooed investors in Singapore to avail the innumerous business opportunities thrown up by the infrastructure revolution happening India.

Inaugurating a conference on 'Gateway to Logistic Opportunities in India' jointly organised by the Federation of Indian Chamber of Commerce and Industry (FICCI) and the Singapore Business Federation (SBF) in Singapore, Baalu said as India further integrated itself with the global market, there was going to be rapid growth in international and domestic trade cargo volumes.

"To facilitate the seamless movement of such freight traffic, an efficient transport network of roads, ports, airports and railways was essential," an official release press release quoting the Minister, said. In India, the total logistics costs constituted nearly 10 per cent of the GNP of which about 40 per cent was due to transportation alone.

Recalling the words of John F Kennedy that it was not the wealth that built the roads but it was the road that built the wealth of the nations, Baalu said that India had already embarked on an ambitious programme for developing transport infrastructure.




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Baalu asks global investors to capitalize on ''infrastructure revolution''