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Facts & Figures
The building and infrastructure sector is a major driver of the Indian economy, contributing significantly to the country's overall development.
- By 2023, the worldwide construction and engineering market is expected to reach $10.5 trillion, with India's construction market expected to be the third largest in the world, rising at a rate of 7.1 percent per year. The sector employs 51 million people and provides 9% of India's GDP.
- The CAGR of the Indian C&E industry is estimated to be a steady 15.7% by 2024.
- The Indian Government has planned 100 smart cities to be developed by 2025. These smart cities are expected to drive economic growth and improve the quality of life of people by enabling local area development and harnessing technology.
- 100% FDI under automatic route is permitted in completed projects for operations and management of townships, malls/shopping complexes, and business constructions.
- The construction industry in India received the second highest amount of foreign direct investment ($26.08 billion and $24.72 billion, respectively, between April 2000 and March 2021) and is expected to reach $1.4 billion by 2023 through the National Infrastructure Pipeline (NIP), ensuring the country's long-term development.
- In October 2021, Prime Minister Mr. Narendra Modi launched the GatiShakti National Master Plan for multi-modal connectivity, worth Rs. 100 lakh crores, with the purpose of improving infrastructure to reduce logistic costs and enhance the economy.
- India’s ConTech startups are developing rapidly to innovate every phase of the real estate and construction value chain.
- 63 of 136 projects worth nearly US$ 100 million have been completed under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT)
- The Asian Development Bank (ADB) has approved US$ 270 million as a loan for the construction of water supply and integrated stormwater and sewage management infrastructure in Madhya Pradesh.
- An integrated industrial zone over 2,518 acres has been developed at Nanguneri in Tirunelveli district of Tamil Nadu by AMRL SEZ, to enable both global and national manufacturers to establish and expand their manufacturing facilities in India.
- Realty developer M3M has acquired a 25-acre land parcel for US$ 35 million in Gurugram, Haryana, to develop a low-rise housing society.
- Xandar Group has secured a takeaway of US$ 100 million from Rustomjee projects.
*Source: Invest India and IBEF