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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.
Diese Geschichte stammt aus der December 2023-Ausgabe von Construction Week.
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Diese Geschichte stammt aus der December 2023-Ausgabe von Construction Week.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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SMOOTH OPERATORS
Lubricants manufacturers are leaving no stone unturned to bring out the best for the industry
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THE UNMET DEMAND FOR SPACIOUS HOMES IN NCR
Siddharth Katyal, CEO, Bhumika Group, on what needs to be done
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BUILD THEM FAST
Road construction equipment are getting innovative and highly advanced in India
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IS SOCIAL MEDIA INFLUENCING THE IDEA OF A DREAM HOME?
Parthh K Mehta, CMD, Paradigm Realty highlights impact of social media on home buying decisions.
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RETAIL LEASING REMAINS STRONG
At 6.4 mn sq-ft in CY 2024 despite limited supply infusion across top 8 cities.
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JK CEMENT GOES TO JAMMU & KASHMIR
This move aligns with the government's focus on boosting infrastructural growth
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POWERING INDIA'S GROWTH THROUGH INNOVATION AND VALUES
Over the years, Gmmco has successfully offered solutions to the construction, mining and energy & transportation industries to ensure customer profitability.
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PROVIDENT HOUSING LAUNCHES ECOPOLITAN
The new phase comprises 581 residential units
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AAIJI INFRASPACE, INFINITY LAUNCH PROJECT
Its inaugural project is coming up in Kadipur village
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Enhancing fire safety in high-rises
Mumbai's high-rise developments dominate the national landscape, with the city accounting for 77% of India's tall buildings.