The Indian government, led by Prime Minister Narendra Modi, is prioritising infrastructure development to keep pace with the country's expanding economy. The aim is to transform India into a developed nation by 2047. This mission places significant emphasis on infrastructural investment, with numerous upcoming projects identified as crucial to the country's economic growth.
Investing in infrastructure development is key to a nation's economic prosperity and enhancement of citizen's quality of life. For every rupee spent on infrastructure, there is a 1.21.5X multiplier effect on GDP, driving economic growth. This type of development also creates large-scale employment opportunities and benefits related industries. Additionally, it helps achieve social objectives by ensuring all citizens have access to essential services and amenities. Infrastructure development, therefore, plays a vital role in both economic enhancement and social welfare.
India is expected to be one of the largest economies in the world by 2047 with a GDP of about $35-40 trillion as per CII infrastructure development in the last few years by increasing the estimates from about $3.5 trillion in 2022 which increased by about 2x since 2010. In addition, the country’s industrial output has increased by 56% since 2010, which has supplemented the pace of urbanization which is expected to accelerate by 2047. This exponential economic growth in the country will drive the need, as well as be supported by the development of infrastructure in the future.
Denne historien er fra December 2023-utgaven av Construction Week.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 2023-utgaven av Construction Week.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
HOUSING SALES IN MAJOR CITIES DROP BY 11% IN Q3 2024, SURPASSING NEW PROPERTY LAUNCHES: ANAROCK GROUP
Six salient growth levers include urbanization, demographic shifts, digitalization, sustainability
INDIAN REAL ESTATE SET FOR BREAKTHROUGH: 16% GROWTH TO PROPEL MARKET TO $10 TRILLION BY 2047: COLLIERS-CREDAI REPORT
Six salient growth levers include urbanization, demographic shifts, digitalization, sustainability
GAUR NYC RESIDENCES
Group's third ultra-luxury project
HIRANANDANI WOODSPRING
Hiranandani Woodspring by House of Hiranandani, located along the Bhiwandi-Kalyan corridor is spread across 4.5 acres. The premium residential complex is set to change the skylines of Kalyan with its neoclassical and meticulously crafted towers of 25-28 storeys.
OPENING DOORS TO THE WORLD
Aluk India opened its Home Experience Centre in Bangalore. It will offer partners and customers an insight into fascinating and unique products
OVER THE TOP
Building bridges and flyovers that last decades is easy, if you follow stringent principles
RIGHT FROM UNDER
When it comes to CE, excavators beat others hands down
THE POWER OF PERSISTENCE
Amit Jain, chairman & managing director, Arkade Developers, joined his father's real estate A pretty early on in his career. While his father entered the world of real estate in 1985-86 with single stand-alone buildings, Amit quickly learnt the ropes and joined his father after completing his graduation from Mithibai College.
SUSHMA GROUP ACQUIRES 59-ACRE LAND PARCEL
The focus is on sustainable development and modern urban planning
TREVOC GROUP SETS RS 1000 CRORE TARGET
This project offers more than just luxury amenities