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

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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

Real Estate

08 Sep 2025

Max Estates Secures 7.25 Acre Land in Gurugram for Luxury Housing

Max Estates (Max Estates), a leading NCR real estate developer, has acquired development rights for a 7.25 acre land parcel in Sector 59, Gurugram, along the prime Golf Course Extension Road. The project has a development potential of approximately 1.3 million sq ft with an expected outlay of Rs 5.34 billion, offering a Gross Development Value (GDV) of more than Rs 30 billion. The transaction involves the purchase of 100 per cent shareholding in Base Buildwell (BBPL), the SPV holding license and development rights for the parcel, subject to regulatory approvals. With this acquisition, Max..

Resources

08 Sep 2025

10th Belt and Road Summit to Drive Collaboration in Hong Kong

The 10th edition of the Belt and Road Summit will be held on September 10-11 at the Hong Kong Convention and Exhibition Centre, marking a decade of progress under the Belt and Road Initiative (B&RI) and opening new avenues for collaboration among governments and businesses. Jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), the Summit is themed “Collaborate for Change • Shape a Shared Future”. It will feature over 90 high-level government officials and business leaders from across Belt a..

Infrastructure Transport

08 Sep 2025

Mumbai Introduces 12-Metre Electric Buses in BEST-PMI Partnership

In a milestone for sustainable urban transport, PMI Electro Mobility’s Mumbadevi Mobility, in partnership with the Brihanmumbai Electric Supply and Transport (BEST), launched the first batch of fully electric buses in Mumbai. At an official ceremony held at the BEST Office, Colaba Depot, four 12-metre e-buses were flagged off by Ashish Sharma, IAS, General Manager, BEST. This marks the first phase of a 250-bus fleet aimed at strengthening public transport and cutting the city’s carbon footprint. The buses will operate from Oshiwara Depot, serving high-demand routes for greater c..