Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India’s overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country.
The Government has target of Rs 25 trillion (US$ 376.53 billion) investment in infrastructure over a period of three years. Infrastructure sector includes power, bridges, dams, roads and urban infrastructure development.
The Government of India has made a record allocation Rs 221,246 crore (US$ 33.07 billion) for several infrastructure projects in Union Budget 2016-17, which is expected to provide significant boost to Indian infrastructure sector.
India is witnessing significant interest from international investors in the infrastructure space. Foreign Direct Investment (FDI) received in construction development sector from April 2000 to December 2015 stood at US$ 24.18 billion, according to the Department of Industrial Policy and Promotion (DIPP).
The Government of India has taken several steps to boost the infrastructure sector. Some of the steps taken in the recent past are:
We have competetive edge in the industry by already having mechanisms in place to address these challanges