”India will be the third largest economy soon. We are not only growing bigger but we are also growing faster. When India grows, the whole world grows,” stated PM Narendra Modi as he addressed the Joint Session of US Congress during his recent visit to the USA. As India’s G20 Presidency draws to a close in September, it has been able to secure the attention of the world on its potential. Union Minister Nitin Gadkari has announced a special focus on expanding the road highway network in the North East, with projects worth over `2 trillion underway in the region. He highlighted that the total length of National Highways has increased from 91,287 km in 2013-14 to 1,45,240 km in 2022-23, a remarkable rise of over 59 per cent during this nine-year period. During the challenging year of 2020-21, highway construction reached its peak, with a daily construction pace of 37 km and a total of 13,327 km of highways built. However, the pace has declined in FY22 and FY23. Recent reports indicate efforts to set a target of up to 2000 km for NHIDCL to achieve an overall construction of approximately 14,000 km this year. While road construction targets have proven elusive, construction stocks have become part of mid-cap portfolios for investors. This development allows company promoters to leverage their shareholding as collateral for easier borrowing and potentially pursue follow-on offers to raise additional equity and reduce debt. The real estate sector has witnessed significant growth and diversification over the past five years. Factors such as the rise of e-commerce companies and start-ups, the demand for logistics and data centers, luxury residential highrises, and hotels have propelled the sector to new heights. Consolidation has led to a portfolio of high-quality developers, and India's favourable investment policies have attracted interest, despite foreign currency fluctuations. Knight Frank's report earlier this year highlighted simultaneous growth in major real estate segments, including office, residential, warehousing, and retail, driven by changing attitudes towards home ownership, return to work, increased hiring, and the proliferation of e-commerce. In 2022, annual sales increased by 34 per cent year-on-year, reaching a nine-year high with 312,666 units sold. In Bengaluru, India's first post office building constructed using 3D printing technology is nearing completion on Cambridge Road. The Halasuru Bazaar Post Office will be housed in a 1,100 square feet facility, with a cost of approximately Rs. 2090 per sq ft. L&T is overseeing the construction, and the technology has been approved by the Building Materials and Technology Promotion Council (BMTPC), with the structural design validated by IIT, Madras. A fully automated 3D printer is being utilised in an open-to-sky environment, marking Karnataka's first public structure built using 3D technology. The cost and time advantages of this technology are expected to encourage further adoption and scale in the construction industry. To stay updated on the latest advancements in construction technology, you can attend the Construction Technology Summit in Delhi on July 14, 2023. Scan the QR code below for more information. Construction World is currently conducting research to identify India's Top Architects & Builders, India's Top Challengers (resilient and growing entities in the construction and building industry), India's Most Admired Brands and India's Fastest Growing Construction Companies. With the economy bouncing back, a fiercely competitive race is expected for the fastest growing company in this rapidly expanding sector. India too, has enhanced aspirations and expectations. We are sitting on a hot opportunity.Follow me on twitter @PratapPadode