Wednesday, July 23, 2014

New report forecasts boost for India’s construction sector in 2015
Photo: Udaipur Times
MUMBAI, JULY 22, 2014: India’s construction sector is forecast to grow at 7-8 per cent each year over the next decade. With the new government, the country is expected to see increased economic growth and the removal of barriers to foreign investment that will "spur demand for construction" over the coming 12 to 18 months, according to a report by international consultancy giant PwC.

The report highlights how an estimated $1 trillion would be spent on infrastructure over the next three years to 2017. Stating that there would be increased investment in industrial projects by the government, the report has noted that it is the private housing sector that would be a key growth area.

The total construction market in India for fiscal year ending March 2014 was $157 billion, an increase of $4 billion over FY2013. Infrastructure accounts for 49 per cent, housing and real estate for 42 per cent and industrial projects for 9 per cent, the report noted.

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