The construction sector faces a burgeoning demand in line with launch of the ambitious National Infrastructure Pipeline (NIP) and the government’s aim to make India a USD5 trillion economy by 2024.  A total capital investment of over USD680 billion has been planned during 2020-2025 across construction intensive sectors such as roads, railways, airports, metro rail, and irrigation under the NIP.

The road sector offers huge opportunities under the Bharatmala programme with a completion target of 35,000 km by 2024-25. The investment envisaged for the sector under the NIP stands at about USD277 billion. Railways is next in line with a planned capital investment of over USD186 billion by 2024-25. IR plans to complete over 17,000 km of new line, doubling and gauge conversion works by 2023-24. The upcoming dedicated freight corridors and high-speed rail corridors also highlight substantial opportunity.

In the metro rail segment, a capital investment target of USD78 billion till 2025 has been set for the sector. Airport development is another big opportunity area for the construction industry with the government planning to operationalise 100 additional airports by 2023-24. The report of the Taskforce on NIP has identified airport projects worth USD20 billion, highlighting plenty of investment opportunities.

Tunnel construction too offers substantial scope for contractors, technology and equipment providers. There is a robust pipeline of at least 1,200 tunnels, spanning a length of around 4,000 km.   With regards to irrigation, an opportunity of over USD55 billion is visible for the contractors under major projects.

Meanwhile, the construction segment continues to struggle with the issues of inadequate investigation, geological complexities, shifting of utilities and mismanaged contracts. Projects have also been stalled or surrendered due to contractual issues. The outbreak of Covid-19 has only exacerbated the situation. Contractors faced shortages of raw materials, equipment and labour, and idling plants and machineries.

While project execution has improved over the years, the heightened level of activity in the construction sector has highlighted the need for more efficient contracting practices, adoption of new and innovative materials, deployment of cost-effective construction techniques and state-of-the-art equipment. 

The mission of this conference is to highlight the construction opportunities that the infrastructure sectors offer in India, discuss the emerging trends and requirements in terms of design, material, equipment and technology, understand the unresolved challenges, and identify the next steps and priority areas to ensure faster and sustainable construction practices.