Govt focused on cutting carbon emissions to net-zero by 2070
The construction industry in India is expected to record an average annual growth of 5.7% from 2025 to 2028 conexpoconagg , supported by investment in renewable energy and industrial projects, according to a report.
The analyst expects the industry to expand by 7% in real terms in 2024 globaltenders , supported by government investment in enhancing transport infrastructure across the country, said the “India Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028” report which has been added to ResearchAndMarkets.com’s offering since 27 Sept.
The government aims to achieve net-zero emissions by 2070 and install 500GW of renewable energy capacity by 2030, up from 190GW in March 2024 nseindia .
The Indian Finance Minister, Nirmala Sitharaman, presented the country’s Financial Year (FY) 2024-25 (April 2024 to March 2025) Budget on 1st February 2024. As part of the latest budget, the outlay for capital expenditure has been increased by 11.1%, to Rs.11.1 trillion (US$135.4 billion) in FY2024-25; this is equivalent to 3.4% of the country’s GDP sbi .
The largest portion of the capital expenditure – equivalent to 24.5% or Rs.2.7 trillion (US$33.2 billion) – has been allocated to the Ministry of Road Transport and Highways (MoRTH); this is followed by an allocation of Rs.2.5 trillion (US$30.7 billion) to the Ministry ted.europa.eu .
Among recent developments in the infrastructure sector, in February 2024, the Minister of Road Transport and Highways laid the foundation stone for 18 national highway projects in Karnataka, collectively worth Rs.61.7 billion (US$742.1 million), said the report nseindia .
The Ministry of New and Renewable Energy (MNRE) has been allocated Rs.128.5 billion (US$1.5 billion) under the FY2024-25 Budget by the government, an increase of 25.7% over the FY2023-24 Budget deutsche-boerse .
The government is focused on achieving its target of cutting carbon emissions to net-zero by 2070. To achieve this goal, the government announced in February 2024 that it will provide viability gap funding for harnessing offshore wind energy potential, for an initial capacity of 1GW sgx . Fiinews.com
