India's infrastructure market exceeds 2023 Japan: BMI Research

India's infrastructure market exceeds 2023 Japan: BMI Research

 "However, the infrastructure market will continue to be dominated by domestic companies, which have significant domestic market advantages due to their experience with the complex regulatory environment in India," said. "Foreign investment legislation reforms under the Make In India initiative have facilitated the investment and participation of international companies in infrastructure projects in India.The center's Narendra Modi-led government has launched several logistics improvement programs that will encourage investment in affordable housing and construction projects that will help build the construction industry over the next 10 years. Years.The trends in industrialization and urbanization make India's infrastructure deficit more visible and increase the demand for investments in roads, railways, ports, power transmission and transmission. Water services, says the report."The Modi government has made some progress in solving the fundamental problems in this sector, such as streamlining the land acquisition process in some states, although the slow pace of the reforms is making the market relatively risky."At the same time, the business environment in India's construction industry remains extremely challenging, as large infrastructure projects often face delays and cost overruns.Although demonetization in 2016 had a negative impact on construction activity as workers' wages were paid in cash, the Fitch Group company estimates that "growth should resume in 2017". Non-residential projects in the country "."The infrastructure market in India is the third largest in Asia and is expected to exceed Japan's nominal value by 2023," said the BMI research report.NEW DELHI: The Indian infrastructure market, at 1.27%, is expected to overtake Japan in the next five years, a report said.