India needs FDI worth Rs 50 to 60 trillion to level-up corona hit economy: Nitin Gadkari

In a bid to boost Covid-19 hit economy, India needs Foreign Direct Investment (FDI) worth Rs 50 to 60 trillion, said Union minister Nitin Gadkari.

FDI

Gadkari said that the FDI amount can be used mainly through infrastructure projects as well as MSME sector to accelerate economy

Focusing on Foreign Direct Investment (FDI) and terming it as the need of the hour, the minister said that such funds would help the country as there is a need for putting liquidity into the market.

Also Read: FDI inflows inflates 28 percent in Q1 to $16.3 billion

“Country at this juncture needs liquidity. Without liquidity our economy’s wheel will not accelerate… Rs 50-60 trillion foreign investment is needed in the country under present circumstances to boost the economy,” the Road Transport, Highways and MSME Minister told PTI in an interview.

“FDI in MSME, Non-Banking Financial Companies (NBFCs) and banks are needed… in the highways sector, we are trying to bring foreign investment,” he said.

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