The infrastructure sector serves as a cornerstone of the Indian economy, receiving strong emphasis from the Indian government due to its critical role in the nation’s growth and the establishment of world-class infrastructure. This sector encompasses a broad range of projects, including power, bridges, dams, highways, and urban infrastructure development.
The Indian government is making concerted efforts to propel India onto the global stage with world-class infrastructure, shaping it as India’s new identity. Notably, India is undertaking significant infrastructure and industrial projects valued at approximately $1.3 trillion.
Infrastructure development serves as a catalyst for the growth of other industries and the overall progress of India. The government is actively promoting infrastructure and construction services through strategic policies, including open Foreign Direct Investment norms, substantial budget allocations to the infrastructure sector, and initiatives like the smart cities mission.
The Indian government has identified the substantial investment required to meet specified infrastructure standards and support economic growth. Moreover, they recognize the importance of integrating modern technologies to enhance the speed and efficiency of infrastructure development. Hence, the Government of India is actively fostering construction activities across the nation.
The Indian Infrastructure and Construction Sectors have evolved significantly. In recent decades, both government and private developers have targeted projects that are considered ‘Low Hanging Fruits,’ i.e., projects that are easy to execute and offer maximum economic benefits. However, there is now a substantial opportunity to undertake complex and intricate projects where the competitive edge for construction majors lies not only in cost efficiency but also in technological proficiency and efficiency.
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