India is expected to become the world’s third-largest construction market by 2025. The construction industry market in India works across 250 sub-sectors with linkages across sectors. Reports say that regardless of near-term challenges in certain construction sectors, medium to long-term progress in India remains intact. Government construction projects are mainly providing an impetus to the growing Indian construction industry. Rapidly evolving technology is redefining how the construction business will be conducted and managed in India.
Although there are rising war tensions in the world with India having no strategic interest in this conflict, there will be an impact will be on the economics of the country. As bankers and experts say – the rise of commodity prices will impact the current account deficit and domestic inflation.
The rising geopolitical escalations between Russia and Ukraine may cast their shadow on the Indian housing industry which is already reeling under the pressure of COVID. Real estate developers have expressed concerns over likely upward pressure on input costs. There being no fears of a disruption in supplies, in all likelihood prices may rise due to the rise in the price of oil.
With all this, as usual let’s move ahead with optimism.