Overcoming challenges, the country is witnessing economic growth recovery on the back of robust consumer sentiment coupled with the focus on key development initiatives by the government. Despite the pandemic and the related lockdown restrictions, sectors like construction and infrastructure are leading this growth story with 13,300 kms of highways constructed in FY21 with an aim to construct 65,000 kms of highways in FY22, thereby driving the consumption of construction aggregate and other raw materials. Cement production is expected to rise by around 16 per cent in FY22 over FY20, with 500 million tonne production expected annually by FY25. Domestic coal production is also on the rise, with the sector gearing up to meet the 1,000 million tonne production target set for FY25. Steel production has seen a Year-over-Year (YoY) rise of eight to nine per cent in FY22 with the yearly demand for finished steel slated to increase to 230 million tonnes in FY31. New inroads are being made in energy, communication, heavy industries, agro products, consumer goods, e-commerce, petroleum and auto sectors with renewed public and private investment.
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Esta historia es de la edición September 2021 de Commercial Vehicle.
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