New Delhi, March 24 (NationPress) Union Minister for Road Transport and Highways, Nitin Gadkari, announced on Tuesday that India's toll revenue is on the verge of a significant increase in the upcoming years, fueled by a surge in road development projects, an uptrend in vehicle registrations, and a transition to sophisticated digital systems.

During an event, Gadkari mentioned that the government anticipates annual toll earnings could escalate to approximately Rs 3.5 to 4 trillion soon, a notable rise from the existing Rs 80,000 to 85,000 crore.

He elaborated that as the economy expands, so does the automotive industry, resulting in heightened traffic on highways and consequently, a boost in toll collections.

"This will also be advantageous for investors involved in road infrastructure," he remarked.

The minister emphasized that India is advancing towards a completely digitized, toll-free system. Plans are in place to implement a multi-lane free-flow tolling system driven by artificial intelligence (AI), eliminating the requirement for physical toll booths.

Gadkari stated, "The shift is expected to be finalized by the end of 2026," adding that the adoption of cutting-edge technologies is already resulting in a savings of around Rs 8,500 crore in toll collection expenses.

Construction has commenced on numerous such initiatives, with contracts awarded for 10 toll plazas, along with additional projects in the works.

Gadkari was addressing attendees at the listing ceremony of the National Highways Authority of India-supported Raajmarg Infra Investment Trust (RIIT). The InvIT's Rs 6,000 crore initial public offering garnered substantial interest from investors, being oversubscribed nearly 14 times.

Discussing infrastructure finance, the minister pointed out that India has immense potential to monetize its road assets, although the current rate of expenditure raises concerns. He mentioned that if project execution is enhanced, the country could potentially invest between Rs 8 to 8.5 trillion annually in infrastructure through a combination of budgetary allocations and capital raised via asset monetization.

Gadkari also projected that by the end of 2026, assets valued at Rs 3.5 trillion are anticipated to be placed under InvITs. The National Highways Authority of India has already successfully monetized road assets worth around Rs 1.5 trillion over the last four years and intends to persist with this strategy, maintaining at least a 10 percent stake in RIIT.