INFRASTRUCTURE PROJECTS ADEEP DIVE

Construction Week has spotlighted several enormous infrastructure projects currently underway across the nation. These ambitious undertakings encompass a wide range of sectors, from transportation and energy to public services

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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.