ICRA predicts 5-8% rise in India's road construction 2024/25
ROADS & HIGHWAYS

ICRA predicts 5-8% rise in India's road construction 2024/25

ICRA, the Indian arm of the Fitch ratings agency, stated that India is anticipated to maintain its current momentum in road construction. They projected an addition of up to 13,000 kilometres in the 12 months through March 2025, marking an annual increase of 5-8%.

According to government estimates, under Prime Minister Narendra Modi's tenure since 2014, India has constructed approximately 90,000 kilometres of national highways, nearly double the amount built in the preceding decade.

Modi is touting road infrastructure as a significant achievement in his campaign leading up to the general election, which commences with voting.

The capital expenditure on roads surged to Rs 2.4 trillion in 2022/23 from Rs 510 billion in 2013/14.

Despite a sluggish start last year due to heavy rains in certain regions of the country, road construction has gained pace since September. ICRA mentioned in a statement that this momentum is likely to persist.

ICRA stated, "The pace of execution in this fiscal year will be supported by a healthy pipeline of projects, increased capital outlay by the government, and a focus on project completion."

Vinay Kumar, vice president and sectoral head of corporate ratings at ICRA, noted that the government's project award pipeline stands at over 45,000 km, indicating robustness, despite delays in cabinet approvals for revised cost estimates.

To offer temporary relief to millions of motorists, truckers, and commercial vehicle owners, the government postponed a proposed hike in road toll charges for about two months earlier this month.

India's road transport minister has set a target of constructing more than 35 kilometres of roads per day in the current fiscal year.

ICRA, the Indian arm of the Fitch ratings agency, stated that India is anticipated to maintain its current momentum in road construction. They projected an addition of up to 13,000 kilometres in the 12 months through March 2025, marking an annual increase of 5-8%. According to government estimates, under Prime Minister Narendra Modi's tenure since 2014, India has constructed approximately 90,000 kilometres of national highways, nearly double the amount built in the preceding decade. Modi is touting road infrastructure as a significant achievement in his campaign leading up to the general election, which commences with voting. The capital expenditure on roads surged to Rs 2.4 trillion in 2022/23 from Rs 510 billion in 2013/14. Despite a sluggish start last year due to heavy rains in certain regions of the country, road construction has gained pace since September. ICRA mentioned in a statement that this momentum is likely to persist. ICRA stated, The pace of execution in this fiscal year will be supported by a healthy pipeline of projects, increased capital outlay by the government, and a focus on project completion. Vinay Kumar, vice president and sectoral head of corporate ratings at ICRA, noted that the government's project award pipeline stands at over 45,000 km, indicating robustness, despite delays in cabinet approvals for revised cost estimates. To offer temporary relief to millions of motorists, truckers, and commercial vehicle owners, the government postponed a proposed hike in road toll charges for about two months earlier this month. India's road transport minister has set a target of constructing more than 35 kilometres of roads per day in the current fiscal year.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?