India’s US$1.3 trillion infrastructure plan

By Andy Brown16 August 2021

Construction in India

Indian Prime Minister Narendra Modi has renewed a pledge to spend 100 trillion rupee (US$1.3 trillion) on infrastructure. Modi made his speech at an event celebrating India’s 75th Independence Day in the country’s capital, New Delhi.

Modi said that the investment would boost the productivity of industries and the economy and create job opportunities for, “hundreds of thousands,” of people. 

He added that it would help make, “local manufacturers globally competitive,” and “Reduce the travel time for the common man and the productivity of our industry will also increase.”

During his speech Modi did not give details about a time frame for the plan and critics have noted that the Prime Minister has made similar pledges in the past.

The Indian government has been investing heavily in infrastructure in recent years - in July a new report, Construction in India, by India Infrastructure Research, estimated a pipeline of around US$1.5 trillion would be spent by 2024 on infrastructure. Over 70% of this was for four infrastructure sectors: energy (24%), roads (19%), urban infrastructure (16%) and railways (13%).

India’s economy contracted by 7.3% in its last fiscal year as the country suffered badly due to the Covid-19 pandemic. Infrastructure investment is seen as a way of stimulating the economy.

In his speech Modi also pledged to make India energy independent by 2047 and said that he wanted Indian railways to reach net zero carbon emissions by 2030.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
5 ways to make remote working work
Keith Ali, MD at Creative ITC, explains how to overcome 5 common challenges when deploying remote working solutions to ensure AEC organisations realise business benefits from digital transformation.
COMMENT: Are we at the beginning of a golden decade in German construction?
Peter Gerstmann, chairman of the board of management of the Zeppelin Group discusses growing opportunities for the German construction sector
Can hydrogen engines turn construction green?
Hydrogen combustion engines move to centre stage as construction aims for zero emissions
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA