India will need to cut imports and significantly increase exports if it is to emerge as the world’s third-largest economy, Union Minister for Road Transport and Highways Nitin Gadkari said on Wednesday, stressing the need to reduce dependence on imported fossil fuels.
Speaking at the CSIR Technology Transfer Ceremony, Gadkari underlined the potential of agricultural waste as a national resource, particularly in reducing crude oil imports and supporting sustainable growth.
India, currently the fourth-largest economy, cannot achieve the next milestone without correcting its trade imbalance, the minister said. “If the country wants to become the third-largest economy in the world, then it will have to reduce imports and increase exports,” he said.
Highlighting innovation in infrastructure development, Gadkari said the use of bio-bitumen, a petroleum-free component derived from agro-waste, in road construction marks a major step towards the vision of Viksit Bharat 2047. “By utilising agro-waste, it reduces pollution caused by crop burning and strengthens the circular economy,” he said.
“With 15 per cent blending, India can save nearly USD 4,500 crore in foreign exchange and substantially reduce its dependence on imported crude oil,” Gadkari added.
Also read: India to get barrier-free highway toll system in a year: Gadkari
The minister said India has become the first country in the world to commercially produce bio-bitumen, describing it as a breakthrough that would empower farmers, create rural livelihoods and strengthen the rural economy.
Bio-bitumen, he said, reflects the Narendra Modi-led government’s commitment to sustainable development, self-reliance and environmentally responsible growth, while also contributing to cleaner infrastructure.
Gadkari also urged manufacturers of agricultural and construction equipment to promote vehicles running on alternative fuels and powered by flex-engines. He said the government has identified 10 highway stretches across the country for the deployment of green hydrogen-powered trucks as part of efforts to cut vehicular pollution.
However, he acknowledged challenges in the sector, saying, “But transportation of hydrogen is a big problem.”
Emphasising the urgency of energy transition, Gadkari said India should aim to become an exporter of energy rather than an importer. He noted that the country spends nearly Rs 22 lakh crore annually on importing fossil fuels, adding that such dependence also contributes significantly to environmental pollution.
Follow us
