Construction sector in India expected to boom in 2015
Experts estimate that India’s construction sector will be growing at rate of 7-8 percent over the next ten years. The country is expecting to see high economic growth and fewer barriers to foreign investment in the next few months with the new reigning government according to PwC reports.
Approximately $1 trillion would be the expenditure for infrastructure over the next three years. Much of the increased investment would be in industrial projects undertaken by the government with private housing sector being a key focus area. Infrastructure contributes to 49%, housing and real estate for 42% and industrial projects 9 percent in the construction market.The total construction market in India for fiscal year ending March 2014 was calculated at $157 billion. This was a rise of $4 billion over the previous year.