India's project surge signals massive investment growth

23 May 2023 CW Team

One standout project was the Versova-Virar Sea Link, a colossal undertaking by the Mumbai Metropolitan Region Development Authority, with a budget of Rs 634.26 billion. Extending over 43 km, the Sea Link will connect Versova in Mumbai to Virar Palghar district in Maharashtra, incorporating connector roads at multiple locations. Consultancy service tenders for this project have already been initiated.

Government entities played a pivotal role in driving this economic surge, launching 461 projects valued at Rs 1228.92 billion. The central government announced 94 new projects, while state government units unveiled 367 projects. Notably, the private sector contributed 221 new projects, with a total investment commitment of Rs 845.32 billion, demonstrating robust growth compared to the previous year.

A wide range of sectors reaped the benefits of these project announcements. Among the twenty mega-value projects announced, the Manufacturing sector claimed seven. Maruti and Skoda propelled fresh investments in the Automobiles sector with high-value projects. The Metals sector witnessed substantial investments from Rashmi Green Hydrogen Steel and Pacific Metasteel. Promising developments also took place in the Food Products and Chemicals sectors.

The Manufacturing sector attracted 105 new projects, with a cumulative worth of Rs 553.45 billion, accounting for over a quarter of the total investment. The Services & Utilities (Infrastructure) sector took the lead with 549 new projects, constituting 68.79 per cent of the total announced investment. Key players in this sector included Maharashtra Industrial Development Corporation, Haryana State Industrial & Infrastructure Development Corporation, and Gramercy Trade Industries.

The Real Estate sector demonstrated significant progress with 105 new projects amounting to Rs 192.07 billion, while the Electricity sector attracted fresh investments of Rs 63.32 billion. The limelight in the Non-conventional Energy sector was captured by Avaada Energy and Solar Energy Corporation of India through their respective solar power projects.

Also Read
Ganga Realty acquires land for luxury and affordable housing projects
CMDA to Study Housing Demand and Supply

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

In April 2023, India experienced a remarkable influx of 682 new projects, amounting to a staggering investment of Rs 2070 billion. Monitored by Projects Today, these projects encompassed a significant number of greenfield initiatives, capacity expansions, and modernisation plans. One standout project was the Versova-Virar Sea Link, a colossal undertaking by the Mumbai Metropolitan Region Development Authority, with a budget of Rs 634.26 billion. Extending over 43 km, the Sea Link will connect Versova in Mumbai to Virar Palghar district in Maharashtra, incorporating connector roads at multiple locations. Consultancy service tenders for this project have already been initiated. Government entities played a pivotal role in driving this economic surge, launching 461 projects valued at Rs 1228.92 billion. The central government announced 94 new projects, while state government units unveiled 367 projects. Notably, the private sector contributed 221 new projects, with a total investment commitment of Rs 845.32 billion, demonstrating robust growth compared to the previous year. A wide range of sectors reaped the benefits of these project announcements. Among the twenty mega-value projects announced, the Manufacturing sector claimed seven. Maruti and Skoda propelled fresh investments in the Automobiles sector with high-value projects. The Metals sector witnessed substantial investments from Rashmi Green Hydrogen Steel and Pacific Metasteel. Promising developments also took place in the Food Products and Chemicals sectors. The Manufacturing sector attracted 105 new projects, with a cumulative worth of Rs 553.45 billion, accounting for over a quarter of the total investment. The Services & Utilities (Infrastructure) sector took the lead with 549 new projects, constituting 68.79 per cent of the total announced investment. Key players in this sector included Maharashtra Industrial Development Corporation, Haryana State Industrial & Infrastructure Development Corporation, and Gramercy Trade Industries. The Real Estate sector demonstrated significant progress with 105 new projects amounting to Rs 192.07 billion, while the Electricity sector attracted fresh investments of Rs 63.32 billion. The limelight in the Non-conventional Energy sector was captured by Avaada Energy and Solar Energy Corporation of India through their respective solar power projects. Also Read Ganga Realty acquires land for luxury and affordable housing projectsCMDA to Study Housing Demand and Supply

Infrastructure Urban

26 Jun 2026

PRS International marks 18 years of global advisory work

PRS International Group of Companies recently said it has strengthened its position as a sovereign-grade multinational advisory organisation, marking nearly 18 years of operations across strategic communications, institutional advisory and international cooperation. The Group, with headquarters in Washington, D.C. and New Delhi, said its work spans more than 190 countries and supports governments, multilateral institutions, investors, corporations and private clients. The organisation said its services cover government advisory, crisis management, trade and investment facilitation, nation bra..

Infrastructure Urban

26 Jun 2026

dormakaba showcases access solutions at iDAC Chandigarh

dormakaba recently participated in iDAC Chandigarh 2026 at JW Marriott, engaging with architects, interior designers, developers, hospitality professionals and industry experts. The access solutions brand showcased a range of security and architectural products, including Mechanical Key Systems, Digital Cylinder, C Lever, Lever Handle, AIDO’s SLYNK Profiled Door System and Hotel Lock. The company said AIDO’s solutions added a design-led architectural and hospitality dimension to its presence at the event. The SLYNK Profiled Door System drew attention for supporting modern interiors where ..

Infrastructure Energy

26 Jun 2026

Tata Power Secures Karnataka Transmission Project

Tata Power has won a power transmission project in Karnataka after emerging as the successful bidder in a tariff-based competitive bidding process run by PFC Consulting, a wholly owned subsidiary of Power Finance Corporation. The company received a Letter of Intent from PFC Consulting for a renewable energy evacuation scheme to be delivered under a Build, Own, Operate and Transfer model. The award follows a competitive selection and positions the firm to expand its transmission activities in the state. As part of the contract, Tata Power will acquire the special purpose vehicle (SPV) created f..