Decline Forecasted in MORTH Road Awards by 40-43% for FY24, Reveals ICRA

22 Dec 2023 CW Team

The Ministry of Road Transport and Highways (MORTH) is set to experience a significant decrease in road awards during the fiscal year 2023-24, according to a recent report by ICRA. The study anticipates a substantial 40-43% decline in awards compared to the previous year. This downturn is attributed to various factors, including economic challenges, policy shifts, and the ongoing dynamics within the logistics sector. The decreased awards pose implications for infrastructure development, impacting not only the construction industry but also the overall economic growth. Key factors influencing this decline include the economic climate, changes in government policies, and the evolving landscape of the logistics industry. Economic uncertainties have led to a more cautious approach in awarding road projects, with authorities taking measured steps in response to the broader economic scenario. The decline, as predicted by ICRA, underscores the need for adaptive strategies within the infrastructure and construction sectors. Stakeholders may need to recalibrate their plans in response to the changing dynamics and align themselves with emerging trends in road development. As the situation unfolds, industry players must closely monitor developments, staying attuned to policy changes and economic indicators that may impact the trajectory of road awards. Navigating this challenging landscape requires a combination of resilience, strategic planning, and a proactive stance to adapt to the evolving scenario.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..