Advantage India
Robust
Demand
* As of January 2024, the total length of National Highways in the country was 146,145 km.
* In FY24, 4.2 million units of passenger vehicles were sold compared to over 3.8 million units sold in the same period last year.
* Passenger Vehicle (PV) sales rose by 10.5% year-on-year in FY24. The total passenger vehicle dispatches increased to 38.90 lakh units.
Attractive
Opportunities
* Union Minister of Road Transport & Highways Mr. Nitin Gadkari has unveiled over 200 projects totaling Rs. 1.25 lakh crore (US$ 14.97 billion) earmarked for the next five years under the National Ropeways Development Programme known as "Parvatmala Pariyojana".
* The Government aims to construct 65,000 kms of national highways at a cost of Rs. 5.35 lakh crore (US$ 64.17 billion).
* A network of 35 Multimodal Logistics Parks are planned to be developed as part of Bharatmala Pariyojana, with a total investment of about Rs. 46,000 crore (US$ 5.55 billion), which can handle around 700 MMT of cargo.
Higher
Investments
* Growing participation of PPP.
* NHAI will come out with the third and fourth rounds of Infrastructure Investment Trusts (InvITs) to raise over Rs. 20,000 crore (US$ 2.41 billion) in FY24.
* Under the Union Budget 2024-25, the Government of India allocated Rs. 2.70 lakh crore (US$ 32.68 billion) to the Ministry of Road Transport and Highways.
Policy
Support
* 100% Foreign Direct Investment (FDI) is allowed under the automatic route in the road and highways sector.
* As on December 2023, the Bhoomi Rashi Portal had incorporated 1467 projects of the National Highways Authority of India (NHAI).
Related News
MOREIndian Roads
- Srinagar
- Golden quadrilateral
- North South / East West / Corridor
- Porbandar
- Mumbai
- Chennai
- Kanyakumari
- Kolkata
- Silchar
IBEF Campaigns
MORE
Aatmanirbhar Bharat Utsav 2024
Union Minister of External Affairs, Dr. S. Jaishankar and Union Commerce an...
Case Studies
MOREIndia's Electric Vehicle Revolution: Trends, Challenges and Opportunities
The electric vehicle (EV) market around the globe is experiencing significant expansion, as countries aim to reduce carbon emissions and transition to...
India’s Renewable Energy Boom: The Power of Solar and Beyond
India is undergoing a transformative shift toward renewable energy, driven by the need to sustainably meet its growing demand for electricity while re...
Hydrogen Energy in India: Roadmap and Implementation of the National Hydrogen Mission
Hydrogen energy is emerging as a pivotal piece in the global shift towards sustainable energy solutions, particularly as the world grapples with an ur...
IBEF BLOG
MORE
India’s Rise as the Second Largest Smartphone Manufacturer
India has become the most populous country in the world, with its populatio...
Government's strategies towards tackling unemployment in India
Unemployment, an important macro-economic indicator that indicates the perc...
Exploring India’s Booming Restaurant Industry
India’s restaurant industry is in the midst of a significant transfor...
Partners
