Infrastructure is a key industry for the overall development of the Indian economy and enjoys focus from the government via policies created to develop world class infrastructure in India. Infrastructure sector includes power, bridges, dams, roads, and urban infrastructure development.

GOVERNMENT INITIATIVES

In Union Budget 2021, the government has given a massive push to the infrastructure sector by allocating Rs. 233,083 crore (US$ 32.02 billion) to enhance the transport infrastructure

The parliament passed a bill to set up the National Bank for Financing Infrastructure and Development (NaBFID) in March 2021 for seamless funding of infrastructure projects

Mega Investment Textiles Parks (MITRA) scheme was launched to establish world-class infrastructure in the textile sector and establish seven textile parks over three years.

The government announced Rs. 305,984 crore (US$ 42 billion) over the next five years for a revamped, reforms-based and result-linked new power distribution sector scheme.

CONCLUSION

India is expected to become the world’s third largest construction market by 2022. The growth prospects and the upward trajectory projected for this sector is exciting and makes the sector an attractive opportunity.

Reference

1. ibef.org

2. Financial Express