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.

Real Estate

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..