Construction in India
Market Reports on India Provides the Trending Market Research Report “Construction in India - Key Trends and Opportunities to 2025 (Q1 2021)” under Heavy Industry Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports. The Indian construction industry is expected to register growth of 13% in real terms in 2021 following a decline of 12.4% in 2020. The outbreak of the Coronavirus (COVID-19) pandemic and subsequent lockdown restrictions weighed on the industry’s output last year. On a positive note, government investment on infrastructure development aided the industry’s recovery in the final quarter of the year. According to the Ministry of Statistics and Programme Implementation (MOSPI), the Indian construction industry grew by 6.2% year on year (YoY) in the final quarter of 2020 (Q4) - up from Y-o-Y declines of 7.2% in Q3 and 49.4% in Q2 2020. Request a free sample copy of India Construction Market Report http://www.marketreportsonindia.com/marketreports/sample/reports/2208955 We expects the industry to register double-digit growth this year, before recording an annual average growth of 6.2% between 2022-2025. The industry’s growth over the forecast period will be supported by investment in transport, energy, residential and industrial infrastructure projects. In the Fiscal Year (FY) 2021/2022 budget, the government allocated INR5.5 trillion (US$78.2 billion) towards capital expenditure. Also announced was an increase in the number of projects in the National Infrastructure Pipeline, rising from 6,835 projects to 7,400. To fund the new projects, the government plans to increase the share of capital expenditure in central and state budgets in the coming years and establish a new INR200 billion (US$2.8 billion) development finance institution, with a lending target of INR5 trillion (US$70.5 billion) over the next three years.