The central government has completed 4,000 km of highway projects and aims to add another 6,000 km to the network in the 2024-25. These high-speed corridors are intended to enhance seamless connectivity across the country. The government has observed a significant increase in fuel savings of up to 42 per cent for access-controlled vehicles, leading to a reduction in overall logistics costs for the industry.
As per ICRA’s latest release, road construction in India is expected to grow by 5-8 per cent to 12,500-13,000 km in the 2024-25. This growth will be supported by a robust pipeline of projects, increased government capital outlay, and the Ministry of Road Transport and Highways’ focus on project completion. Despite challenges such as delays in Cabinet approvals for Bharatmala Pariyojana Phase 1, the Ministry’s project award pipeline remains healthy, standing at over 45,000 km as of March 2024.