The insurance sector wants to be part of India's road growth story. In a meeting held by Union minister for road transport and highways Nitin Gadkari with bankers in Mumbai on Friday, Kotak Mahindra Bank chief executive officer Uday Kotak signalled the sector's eagerness.
A senior government official on condition of anonymity said: "Uday Kotak, along with LIC (Life Insurance Corporation of India) chairman said they were keen on exploring opportunities in post-construction lending for highway projects. Both insurance and highway projects have the basic characteristic of being long-term projects with investment returns by 15-25 years and can be gelled easily."
Gadkari liked the proposal and further possibilities are likely to be explored to bring in insurance sector investments, said the official on condition of anonymity.
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