Cement

The building materials industry has shown incredible resilience recently, and the outlook remains positive despite the economic downturn. The segment currently has a market size of around USD 225 billion, and the overall growth rate is expected to be 10 per cent. Reddy expresses his optimism by saying, “The business and demand look promising.” Quality-conscious customers will drive demand and sales even further, particularly for high-end products in the building materials segment. Kanodia concludes, “Right now, India is a developing country. More and more development and infrastructure projects will be required to enter a developed country. Hence, the outlook for construction and infrastructure projects will be very optimistic in the coming years. “The transformative approach of Prime Minister Gati Shakti to economic growth and sustainable development.” The strategy is propelled by seven engines: roads, railways, airports, ports, mass transportation, waterways, and logistic infrastructure. These seven engines are backed up by energy, transmission, information technology, bulk water and sewerage, and social infrastructure. During the current fiscal year (2022-23), the government prioritised major projects such as expanding the 25000-Kms National Highway Network. In addition to the four multimodal logistic parks mentioned above, One Station-One Product, Mass Urban Transport including Connectivity to Railways (METRO), Parvatmala, River Linkage Projects, and Smart City Projects, with an estimated budget of 60000/-Cr, will connect 3.80 Cr households under Har Ghar, Nal Se Jal. There are approximately 80 lac houses to be built under the PM Awas Yojna with a budget of 48000/Crores, air connectivity via Udan, the PM’s Development Initiative for the North East Region, an increase in ticket size houses due to COVID-19 in urban and rural areas, and many infrastructure and development projects under PP Models, among other things.