OVERVIEW OF

INDIAN
INFRASTRUCTURE

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Overview
India’s infrastructure sector is essential for its economic development and growth. As a
key component of national progress, infrastructure impacts economic competitiveness,
quality of life, and overall advancement. To support its ambition of becoming a US$5 trillion
economy by 2025, the Indian government has significantly increased its capital investment
in infrastructure. For the interim budget 2024-25, the capital investment outlay has been
raised by 11.1% to ₹11.11 lakh crore, equating to 3.4% of GDP.

This investment is critical in meeting the demands driven by rapid population growth
and economic expansion. This report provides an overview of the current state of various
infrastructure sectors in India, including roads and highways, railways, cement, renewable
energy, and airports. It highlights recent achievements and ongoing projects and offers key
recommendations for future improvements.

Infrastructural Development
The latest budget outlines a strategic approach for the development of peri-urban
areas through economic and transit planning. It proposes a framework for innovative
redevelopment of existing urban areas. The deadline for the Smart Cities Mission has been
extended from June 30, 2024, to March 31, 2025.

Additionally, the government plans to release funds to 26 cities by September 30, 2024, to
meet the mission’s objectives. While the budget emphasizes urban infrastructure, it also
includes several policy measures aimed at accelerating rural infrastructure development.
Furthermore, it focuses on promoting affordable housing under the PMAY scheme and
supports the real estate sector through enhanced infrastructure development.

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Sectoral Growth
1 Roads & Highways
India boasts the second-largest road network in the world, covering approximately 6.7
million km, having grown by 59% over the last ten years. The road sector has experienced
substantial growth over the past decade, with significant advancements in national and
rural road infrastructure.

Revolutionizing India’s roadways entails a comprehensive overhaul of the country’s

transportation, encompassing modernization, expansion, and connectivity. Through
strategic planning and substantial investments, India is transforming its road network into a
robust and efficient system.

Few Recent Achievements:

National Highways Expansion: The NH network has grown by 60% from 91,287 km in
2014 to 1,46,145 km in 2023. The pace of highway construction reached 37 km/day in
2020-21, setting a record.

Bharatmala Pariyojana: This initiative focuses on enhancing connectivity through

economic corridors, border roads, and expressways. Of the 25 planned high-speed
corridors, 20 are completed or in progress.

Rural Roads: Under the Pradhan Mantri Gram Sadak Yojana (PMGSY), 3.74 lakh km of
rural roads have been constructed since 2014.

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Key Projects

NHAI Project in Karnataka: Construction of a 4-lane highway with an investment of

₹689.72 crore.

NHIDCL Project in Uttarakhand: Mitigation measures for landslides and bridges on NH-
07, costing ₹299.57 crore.

In March 2024, Prime Minister Mr. Modi inaugurated multiple connectivity projects in
Kolkata, totalling US$ 1.8 billion.

In June 2022, the Minister of Roads Transport and Highways, opened 15 national
highway projects worth ₹13,585 crore in Patna and Hajipur, Bihar.

Recommendations:

Focus on Maintenance: Emphasize regular maintenance to prolong the lifespan of newly

constructed roads and highways.

Enhanced Project Management: Streamline project approval processes to reduce

delays and ensure timely completion.

Moreover, India is expected to maintain current road construction momentum, adding

up to 13,000 km in the 12 months through March 2025, an annual increase of 5-8%.

Zonal Wise Summary

Zone Project No Construction Value (INR Cr) % by Construction Value

West 122 166,777 53.06%

North 87 44,813 14.26%
South 76 36,406 11.58%
East 54 26,628 8.47%
North-East 55 21,554 6.86%
Central 32 18,167 5.78%

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2 Railways
The Indian Railways sector is undergoing a major transformation with modernization efforts
and the introduction of advanced technologies.

Key Recent Achievements:

Vande Bharat Trains: Over 100 Vande Bharat trains are operational, featuring advanced
safety and comfort features. The introduction of 10 new trains in March 2024 highlights
ongoing progress.

Electrification: As of December 2023, 93.83% of broad-gauge tracks are electrified,

with ongoing efforts to achieve 100% electrification.

Metro Expansion: The Metro Rail network has expanded from 248 km in 2014 to 945 km
in 2024, serving 21 cities.

Key Projects

Rites Ltd Project in Jharkhand: Infrastructure development for Amrapali OCP expansion
with an investment of ₹130.93 crore.

NFR Project in Assam: Track doubling and electrification with a budget of ₹540.95 crore.

Recommendations:

Upgrade Infrastructure: Continue investments in modernizing railway stations and

enhancing passenger amenities.

Promote Electrification: Accelerate efforts to achieve 100% electrification of rail

networks to reduce carbon emissions.

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3 Cement
The Indian cement industry is experiencing a period of dynamic growth, buoyed by a
confluence of factors driving demand and expansion. With rapid urbanization, ambitious
infrastructure projects, and government initiatives focusing on affordable housing, the need
for cement has surged across the country.

In this landscape, major players like the Adani Group, UltraTech Cement, and other industry
leaders are making strategic moves to capitalize on the burgeoning market opportunities.
The Adani Group has set ambitious targets to capture a significant market share by fiscal
year 2028, leveraging its existing infrastructure and exploring avenues for organic growth
and acquisitions. This demonstrates the conglomerate’s confidence in the long-term
potential of the industry and its commitment to establishing a strong presence.

Similarly, UltraTech Cement, India’s largest cement manufacturer, is expanding its footprint
with strategic acquisitions and brownfield expansion projects. The recent acquisition of a
grinding unit in Maharashtra and investments in capacity expansion highlight the company’s
proactive approach to meet growing demand and strengthen market presence. The price
of the acquisition was valued at Rs 315 crore, underlining the strategic importance of the
investment.

Other industry players, such as Ambuja Cement and Dalmia Bharat Cement, are also
making significant investments to enhance their market position. Ambuja Cement had
also announced plans to invest in greenfield and brownfield expansion projects, focusing
on increasing production capacity and improving operational efficiency. Similarly, Dalmia
Bharat Cement has undertaken initiatives to enhance its product portfolio and strengthen
distribution networks to better serve diverse market segments.

Company Name Revenue EBITDA EBITDA Margin Net Profit Net Margin

Ultratech Cement 68640.63 13210.21 19.24547 6904.87 10.05945021

Ambuja Cement 17919.34 4207.65 23.48105 2334.69 13.02888388
ACC Limited 19952.23 3549.14 17.78819 2124.24 10.64662947
Shree Cement Ltd 19585.53 4924.63 25.14423 2468.44 12.60338628
Dalmai Bharat Ltd 130 132 101.5385 112 86.15384615
Ramco Cement Ltd 2110.88 121.41 5.75163 84.48 4.002122338
JK Cement Ltd 10918.05 2134.87 19.55358 830.64 7.607951969

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Recommendations:

Invest in Sustainability: Focus on green

technologies and sustainable practices
to reduce environmental impact.

Optimize Production: Enhance

operational efficiency and explore
new market opportunities to stay
competitive.

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4 Renewable Energy
India stands 4th globally in Renewable Energy Installed Capacity (including Large Hydro),
4th in Wind Power capacity & 5th in Solar Power capacity. The country has set an enhanced
target at the COP26 of 500 GW of non-fossil fuel-based energy by 2030. This has been a key
pledge under the Panchamrit. This is the world’s largest expansion plan in renewable energy.

Years 2024 2025 2026 2027 2028 2029

2018 2019 2020 2021 2022 2023
(GW) (P) (P) (P) (P) (P) (P)

Bio 27.22 31.51 32.86 36.76 40.74 37.24 39.43 41.25 39.95 41.17 42.04 41.64

Hydro
139.8 162.1 163.7 160.3 174.9 176.3 185.8 194 202.4 211.1 220 227.8
Power

Solar
36.33 46.27 58.68 68.31 95.16 67.11 95.8 104.6 113.4 122.1 130.9 139.7
Energy

Wind
60.31 63.31 60.43 68.09 70.05 70.95 76.37 80.27 84.3 88.47 92.82 96.58
Energy

Total 263.66 303.19 315.67 333.46 380.85 351.6 397.4 420.12 440.05 462.84 485.76 505.72

Key Projects
CMPDI Project: 70 MW solar power project in Madhya Pradesh, valued at ₹395 crore.

SECI Project: 2000 MW solar PV projects with energy storage systems, costing ₹40 lakhs
per MW.

Recommendations:

Diversify Energy Sources: Continue investing in a mix of renewable energy sources to

ensure energy security and stability.

Improve Grid Integration: Enhance grid infrastructure to better integrate and manage
renewable energy sources.

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5 Airports
India’s aviation landscape transformed with the launch of UDAN Scheme and the
operationalization of greenfield airports, contributing to enhanced connectivity and
accessibility across the country.

India’s aviation sector has witnessed significant expansion with 545 routes operationalised
under the Ude Desh ka Aam Nagrik (UDAN), aimed at improving air connectivity to
underserved regions. Alongside route expansion, 21 Greenfield Airports have been identified
for development in the country, out of which 12 have been operationalised reflecting the
government’s commitment to enhancing air travel infrastructure. With 158 operational
Airports and the construction of 84 airports over the last decade, India’s aviation network is
rapidly evolving and over 1.36 crore people have already travelled till March 13, 2024.

Recommendations:

Expand Capacity: Continue developing new airports and expanding existing ones to
accommodate growing passenger demand.

Enhance Efficiency: Invest in technology and infrastructure to improve airport

operations and passenger experience.

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Key Projects

Company Name Revenue EBITDA EBITDA Margin Net Profit

Road & Highway NHAI Access Controlled Highway Of 4 Lane with Paved NHAI Hq , South INR 689.72 CR.
Shoulders From Design Ch. 55.800 Muddhenahalli To West Delhi ,
Design Ch 76.160 Keresooragondanahalli In Hassan Delhi
Hiriyur Section Ec20 In Karnataka On Ham Under Nh (o)
Project Length 20.36 Kms (pkg 3)
Road & Highway NHIDCL Consultancy Services as Authority’s Engineer for NH-07, INR 299.57 CR.
Supervision of “(i) Construction of mitigation measures Uttarakhand
of 10 nos. of Landslides, 01 no. Sinking zone and 01
no Minor bridge in between Km 368.00 to Km 433.00
on NH-07 (Old NH-58) on EPC mode in the state of
Uttarakhand (Package-I) ;(ii) Construction of mitigation
measures of 05 nos. of Landslides, 05 no. Sinking
zones in between Km 433.00 to Km 450.00 on NH-07
(Old NH-58) on EPC mode in the state of Uttarakhand
(PackageII);(iii)Construction of mitigation measures
of 05 nos. of Landslides, 05 no. Sinking zones and 01
no Minor bridge in between Km 450.00 to Km 468.00
on NH-07 (Old NH-58) on EPC mode in the state of
Uttarakhand (PackageIII).
Renewable CMPDI Design, Engg., Supply, Const., Erection, Installation, Madhaya INR 395.00 CR.
Energy Testing And Commissioning Of Grid Connected Ground Pradesh
Mounted Spp Of Capacity 70 Mw Ac With Min 40
Percentage Dc Overload Capacity At Kanhan Area, Wcl
With Comprehensive Onm For Ten Years.
Renewable UREDA Design, Manufacture, Supply, Erection, Testing, Net Uttaranchal INR 100 CR.
energy Metering And Commissioning Including Warrantee And
Amc For 5 Years Of 1 Kwp To 1000 Kwp Grid Connected
Rooftop And Small Solar Power Plants At Various
Locations In The State Of Uttarakhand On Grid Solar
Power Plants
Renewable SECI RfS for Setting up of 2000 MW ISTS-connected Solar Multi State INR 40 lakhs per
Energy PV Power Projects with 1000 MW/4000 MWh Energy MW
Storage Systems (ESS) in India under Tariff-based
Competitive Bidding (SECI-ISTS-XVII)
Railway Rites LTD Earthwork in Railway formation including Supply & Ranchi, INR 130.93 CR
spreading of blanketing layer, Construction of Bridges, Jharkhand
Supply of P-way materials excluding Rails, Laying &
Linking of track, supply & spreading of stone ballast
and other allied works for additional Rail infrastructure
for Amrapali OCP expansion 25MTY (PH-II) with
connection to Chandragupta OCP (15MTPA) of CCL
" Dist.- Chatra, Jharkhand, PKG-II, (Ch 0.00m to Ch
8700m)”
Infrastructure Rites Ltd Appointment of Design Consultant for Providing Orissa, India INR 334.80 CR.
Comprehensive Design Services for Construction of
Various Infrastructure Works Under Phase III at IIT
Bhubaneswar to be Undertaken Through EPC Mode III

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Key Projects

Company Name Revenue EBITDA EBITDA Margin Net Profit

Infrastructure Military Provn Of Certain Otm And Domestic Infrastructure Jorhat, India INR 34.00 CR.
Engineer Including Two Nos Of Stp At Af Stn Jorhat.
Services
Railway NFR engineering, procurement and construction (epc) Dibrugarh, INR 540.95 CR.
contract agreement for doubling of track between Assam, India
dhansiri (including) (km 241.000) to naojan stations
(excluding) (km 285.860) (excluding) Dimapur yard
from km 259.062 to km 260.782=1.72 km) (total
length- 43.140 kms) including electrification &
signalling works in connection with lumding - tinsukia
jn - dibrugarh doubling project of northeast frontier
railway in the state of assam

Railway RVNL Construction Of Tunnel T1 From Chainage Km 33+160 Indore INR 1208.55 CR.
To Km 34+400 And Tunnel 2 From Chainage Km 57+400
To Km 66+040 With Ballast Less Track and Works
Related To Formation On Approaches Of Such Tunnels
In Connection With nstruction Of Electrified New Bg
Railway Line Between Mangliyagaon (Indore) To Budni
Stations (198 Kms) Of Ratlam Division And Bhopal
Division Of Western Railway And West Central Railway
Respectively In Madhya Pradesh State, India

Infrastructural Failures
India is undergoing a substantial infrastructure expansion, marked by ambitious projects
such as the Mumbai-Ahmedabad bullet train and the Chenab bridge, the world’s highest
railway bridge. This rapid development aims to modernize infrastructure with advanced
technologies, enhance connectivity, and position India as a global economic powerhouse.

However, this ambitious vision faces significant challenges, particularly highlighted by

construction failures in Bihar. These failures have been attributed to issues such as the tilting
or settling of bridge pillars, poor reinforcement arrangements, inadequate cement quality,
and overall lack of quality control.

Other contributing factors include improper depth calculations in design, non-compliance

with design specifications during construction, and deficiencies in geotechnical
investigations, procurement, and surveying.

Addressing these failures requires a comprehensive approach that integrates technical

precision, educational improvements, better procurement practices, and rigorous
accountability measures. Implementing these strategies will help safeguard infrastructure
investments and support India’s goal of becoming a global economic leader.

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Outlook
India’s infrastructure sector is undergoing significant growth, driven by substantial
government investment and strategic initiatives. The progress in areas such as roads,
railways, cement, renewable energy, and airports reflects the country’s commitment
to building a modern and efficient infrastructure network. To sustain this momentum
and achieve long-term economic goals, it is crucial to address challenges related to
maintenance, project management, sustainability, and capacity expansion.

The infrastructure sector has become a central focus for the Government of India. With
a projected GDP growth rate of 8% over the next three fiscal years, India remains one of
the fastest-growing major developing economies. Collaborative efforts with Japan are
enhancing infrastructure development in Northeast India, exemplified by the establishment
of the India-Japan Coordination Forum to oversee key projects in the region.

As India pursues economic and social advancement, the importance of innovative financing
mechanisms for infrastructure projects becomes increasingly evident, particularly given the
surge in development activities. Additionally, addressing internal collaboration inefficiencies
is essential for managing uncertainties and improving project outcomes. The infrastructure
sector continues to be a key driver of India’s economic development, with a promising
outlook for ongoing progress and innovation.

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