The construction market in India is one of the top five largest construction markets in the world. Valued at $ 640.92 billion, the industry is anticipated to grow by a CAGR of 6 per cent during 2023-2028. It is expected to reach $ 1.4 trillion by 2025 as activities in the private and public sectors continue to receive a massive boost. The Indian construction industry ranks third among the 13 major economic sectors and is the second-largest job creator after agriculture. It employs more than 51 million people and makes up 9 per cent of India’s GDP. Consisting of industrial construction, residential construction, commercial construction, infrastructural construction, institutional construction and energy and utilities construction, the market is largely spurred by real-estate and infrastructural projects. There is substantial opportunity to undertake complex and complicated projects, wherein the competing factor for construction majors will not only be cost-efficiency but also technological competence and efficiency. According to a report by ICRA, the construction industry in India is expected to witness healthy revenue growth in the medium term. The construction Gross Value Added (GVA) witnessed a 9.9 per cent growth in FY 2023-24. While buildings and roads continue to account for the bulk of the order book, urban and metro infrastructure, along with water and sanitation, have also seen significant expansion in the order book over the past few years. However, rising commodity prices and increased competition in the space are expected to have an impact on the construction industry’s profitability. The factors supporting growth of the construction industry include order inflows in the railways, roadways and drinking water sectors. This, along with increased spending from the Government on infrastructure projects, is projected to drive market growth. By 2030, over 40 per cent of India’s population is expected to live in urban areas. This shift is expected to create demand for an additional 25 million mid-end and affordable housing units. The country is poised to become the third-largest construction market in the next two to three years. Over the past few years, the Government has executed several infrastructure projects, resulting in increased spending on the sector. Under the National Infrastructure Pipeline (NIP), India has earmarked a budget of $ 1.4 trillion for infrastructure investment. This includes 24 per cent for renewable energy, 18 per cent for roads and highways, 17 per cent for urban infrastructure and 12 per cent for railways. Innovative initiatives like the Smart City Mission, which targets 100 cities, aim to enhance the quality of life through modernised, technology-driven urban planning. Under the Technology Sub-Mission of the PMAY-U, 54 global innovative construction technologies have been identified, marking a new era for the Indian construction technology sector.