The Indian construction market is expected to grow at a compounded annual growth rate of 15.45 percent between now and 2017 according to a new study of the Indian construction market. Called “Construction in India – Key Trends and Opportunities to 2017,” the report says government commitment to improving infrastructure will continue to drive a strong construction market.
The infrastructure, industrial and commercial construction markets collectively accounted for 74.2 percent of the total Indian construction industry in 2012. Consequently, the contribution of these three markets will be significant to the overall Indian construction industry growth during the forecast period.
Construction activity in the residential market will be driven by demand side factors, such as the growth in nuclear families and the rising urbanization rate, as well as government support and state investment in affordable housing schemes.
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