The Indian government has prioritized the improvement of the country's infrastructure to match its growing economy. With a goal of transforming India into a developed nation by 2047, Prime Minister Narendra Modi has emphasized the importance of investing in infrastructure. As such, various upcoming infrastructure projects have been identified as essential to the country's growth.
To learn more about India's infrastructure growth story, brokerage Nirmal Bang has released a research report that explores the country's infrastructure development initiatives. These efforts reflect the government's dedication to investing in infrastructure as a means of achieving long-term economic prosperity.
1. Mumbai-Ahmedabad High-Speed Rail Project
The Mumbai-Ahmedabad High-Speed Rail Project is a major infrastructure development that aims to connect the cities of Mumbai and Ahmedabad with a high-speed rail link. This joint venture between the Indian and Japanese governments is expected to cost around Rs. 1.1 trillion and will cover a distance of 508 km, with the train running at a top speed of 350 km/hour. Once completed, the travel time between Mumbai and Ahmedabad will be reduced from 7 hours to just 2 hours.
Current Status Of The Project:
According to the latest update by the National High-Speed Rail Corporation Limited (NHSRCL), the first section of the Mumbai-Ahmedabad Bullet Train project in Gujarat is scheduled to open in 2026. The construction of lodging buildings at the Vadodara Training Centre has been completed, and work is ongoing at the Sabarmati HSR Terminal Station. The main-line foundation's concrete pouring began in February 2021, and construction is currently underway for five civil packages within Gujarat, namely C4, C5, C6, C7, and C8, as per the details provided in the contractor section. Check the video
2. Navi Mumbai International Airport
India's Navi Mumbai International Airport is set to become one of the largest airports in the country, catering to the growing demand for air travel in Mumbai and its surrounding regions. The airport is projected to cost Rs.167 billion and will cover an area of approximately 1,160 hectares. With the capacity to handle up to 60 million passengers per year, the airport is a significant infrastructure project.
Project Update
In September 2020, the Adani Group acquired a controlling stake in the project from GVK, and site preparation work has been ongoing since early 2021. The foundation stone for the project was laid by Prime Minister Narendra Modi in February 2018. Once completed, the Navi Mumbai International Airport is expected to bring a significant boost to the region's economy and enhance the air travel experience for millions of passengers.
3. Delhi-Mumbai Industrial Corridor (DMIC)
The Delhi-Mumbai Industrial Corridor (DMIC) is a significant infrastructure project aimed at creating a world-class industrial zone in India. The project covers a distance of approximately 1,483 km and includes a dedicated freight corridor and six new industrial cities. The project is expected to cost around Rs. 9.5 trillion and is set to boost India's manufacturing sector. For more detailed information on the DMIC project, interested parties can refer to the official website.
Current Status Of The Project:
According to a recent tweet by Union Minister Nitin Gadkari, the DMIC project is progressing smoothly. As of now, around 1,500 km of the project's total length of 1,800 km has been completed, and the remaining work is expected to be finished soon. Once completed, the DMIC project is expected to significantly contribute to the growth and development of India's economy.
We are undertaking the development of various Greenfield Corridor projects in Maharashtra, specifically focused on the construction of the Chhatrapati Sambhaji Nagar to Karodi Village section of National Highway 52 (Old NH-211). This stretch of the project commences at Nipani… pic.twitter.com/HOrRGQOvcl
April 22, 20234. SagarMala Project
The Sagarmala Project is an extensive initiative aimed at improving India's maritime infrastructure and developing its coastline. With an estimated cost of Rs. 8.5 trillion and a coverage distance of approximately 7,500 km, the project includes the construction of new ports, the modernization of existing ports, and the establishment of new coastal economic zones.
Current Status Of The Project:
The Project is making significant progress and is expected to have a major impact on the economy in 2023. As of now, 574 projects have been identified, and 431 of them are already under implementation or have been completed. The project aims to modernize ports, improve connectivity, and create job opportunities across various sectors. With a focus on boosting coastal shipping and inland waterways, the Sagarmala project is set to transform India's maritime sector and facilitate economic growth.
5. Bharatmala Pariyojana
Source: Nitin Gadkari Twitter.
The Bharatmala Pariyojana is a road infrastructure project that aims to connect the entire country with a network of highways. The project will cover a distance of around 83,677 km and will involve the construction of new highways and the expansion of existing ones. The project is expected to cost around Rs. 5.35 trillion and will help improve connectivity across the country.
The impetus to Road Infrastructure under Bharatmala Pariyojana
April 22, 2023
🛣️Nearly 50,000 kms of National Highways added in the last 9 years
🛣️Pace of construction up from 12 to 29 km/day since 2014
🔗https://t.co/EK2Niho8fj#AmritYatra #AmritMahotsav pic.twitter.com/37d0aBg0RYStatus Of The Projects
The Bharatmala project Phase 1, which aimed to construct a vast network of roads in India by 2022, is expected to face a four-year delay due to challenges related to land acquisition, cost overruns, and the COVID-19 pandemic. As of October 2020, the government reported the completion of 2,921 km of highways under Phase 1, but ICRA predicts that the project may not be completed until FY 2026, assuming work contracts are awarded by FY 2023. The cost of developing Phase 1, originally estimated at Rs 5.35 lakh crores, has now risen to 8.5 lakh crores, largely due to land acquisition delays.
Under the Bharatmala Pariyojana initiative, a new Greenfield Corridor Project is underway in the state of Tamil Nadu. This involves the development of a Double Tier 4-lane Elevated Corridor from Chennai Port to Maduravoyal.
April 23, 2023
The completion of this project is expected to alleviate… pic.twitter.com/f6AelqIlsyBharatmala project Phase 2
Planning for Phase 2 of the Bharatmala project has already started, with the NHAI identifying 5,000 kms of network to be covered under the second phase.
India, a fast-growing nation, requires infrastructure development to match its progress, and the government has undertaken several ambitious projects to achieve this goal. These initiatives aim to enhance the country's infrastructure and support its growth, with a particular focus on transportation, energy, and digital connectivity. With sustained efforts and investments, India's infrastructure is expected to become more modern, efficient, and sustainable, enabling the country to meet the needs of its citizens and compete globally.
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