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
* Shri 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 2023-24, the Government of India has allocated Rs. 2.7 lakh crore (US$ 33 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).
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