Construction

In the previous decades, China was the fastest growing economy in the world.

The sustained high economic growth coupled with increased competitiveness in manufacturing can be attributed to the gigantic development of physical infrastructure in China. India seemed to have realised this and has started investing heavily in improving and building physical infrastructure in the country. The government has identified development of physical and social infra as the first dimension of its 10 most important dimensions that it has identified as part of its Vision 2030. This vision includes building and improving infrastructure of roads, urban transport, seaports, airports, railways, inland waterways etc. To turn this vision into reality, the government has allocated massive funds in the recent budgets.

The construction activity comprises of infrastructure, building and construction. During FY2017-18, the road tender activity reached all-time high of 1.2 lakh crore, but later the tendering activity slowed down and in FY19 it fell to 45,000 crore. However, the state highway awards acted as a cushion for infra players.