Advantage India
Robust
Demand
* In FY22 (until December 2021) 5,835 kms of highway was constructed across India.
* In FY22, automobile production (comprising passenger vehicles, three-wheelers, two-wheelers and four-wheelers) stood at 22,933,230 units.
Attractive
Opportunities
* The Government aims to construct 65,000 kms of national highways at a cost of Rs. 5.35 lakh crore (US$ 741.51 billion) by 2022.
* Andhra Pradesh will spend US$ 296.05 million to build 8,970 kms of roads.
* To transform road infrastructure in Punjab, Haryana and Rajasthan, the Indian government has planned to construct roads extending 313 kms for Rs. 11,000 crore (US$ 1.48 billion).
Higher
Investments
* Transfer from National Investment Fund (NIF) was estimated at Rs. 20,000 crore (US$ 2.61 billion) as of March 2022.
* Under the Union Budget 2022-23, the Government of India has allocated Rs. 199,107.71 crore (US$ 26.04 billion) to the Ministry of Road Transport and Highways.
Policy
Support
* In October 2021, the government issued a notice related to concessions under the Vehicle Scrapping Policy (effective from April 2022) to encourage vehicle owners towards discarding old vehicles which have higher fuel consumption costs.
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