To match the expanding economy, the Indian government has made infrastructure development the top priority. The necessity of infrastructure investment has been emphasized by Prime Minister Narendra Modi, who wants to see India become a prosperous country by 2047. As a result, a number of forthcoming infrastructure projects have been deemed crucial to the development of the nation. The outlook is positive for India's infrastructure during the next ten years. It is brimming with enticing government programs and a backlog of substantial projects that are supported by a sizable sum of funding. With an emphasis on building more sustainable structures using greener materials and technology, as well as a growing need for more sophisticated equipment, India is an important market for construction equipment producers and developers.
The government has set a target of becoming a $5 trillion economy by 2025. The Department of Economic Affairs, GoI, estimates that the nation will need to invest $4.5 trillion in infrastructure development by 2030 to accomplish its $5 trillion economic goal by 2025. The Indian government has launched a number of infrastructure projects that are backed by the government in recent years. Included among these initiatives are the Bharatmala Pariyojana, the Narmada Valley Development Project, the Chenab River Railway Bridge, the Delhi Metro Industrial Corridor, the Mumbai Trans Harbour Link, the Inland WaterWays Development Project, the Navi Mumbai International Project, and the Zoji-la and Z-Morh Tunnel Project. The objectives of these initiatives are to update India's infrastructure and raise the standard of quality of life for its citizens.
Bharatmala Pariyojana
The Bharatmala Project is a nationwide highway-connecting road infrastructure initiative. It is anticipated to cover a distance of 83,677 km and involves the expansion of current highways as well as the building of new ones. The project, which is expected to cost Rs. 5.35 trillion, will enhance connectivity throughout the nation.
ICRA projects that the project might not be finished until FY 2026, assuming work contracts are issued by FY 2023. As of October 2020, the government announced that 2,921 km of highways under Phase 1 were complete. Phase 1 development costs, which were initially projected to total Rs. 5.35 lakh crores, have now increased to Rs. 8.5 lakh crores, primarily as a result of delays in land acquisition. The NHAI has identified 5,000 km of network to be covered in Phase 2 of the Bharatmala project, and planning for this phase has already begun.
Chenab River Railway Bridge
The 1.3 km long Chenab River Railway Bridge is part of the Udhampur-Srinagar-Baramulla Rail Link project, which connects Kashmir Valley with the rest of India. With a budget of USD 92 million, the bridge is a collaborative effort between three engineering companies, namely Afcons Infrastructure (India), VSL India, and Ultra Construction and Engineering Company from South Korea. Union Minister for Road Transport and Highways Shri Nitin Gadkari says the establishment of this bridge serves a dual purpose. Firstly, it will alleviate congestion along the Chanderkote Ramban section, ensuring smoother vehicular movement. Secondly, it will facilitate the seamless passage of vehicles and pilgrim traffic during the 'Shri Amarnath Yatra' on the Jammu-Srinagar National Highway 44, which is scheduled to commence shortly.
According to Gadkari, under the visionary leadership of PM Shri Narendra Modi, they remain steadfast in their commitment to providing Jammu and Kashmir with exceptional highway infrastructure. The transformative development not only contributes to the region's economic growth but also enhances its allure as a prime tourist destination.
Narmada Valley Development Project
By constructing a system of canals and more than 3,000 dams in the river basin, the vast $ 30 billion Narmada Valley Development (NVD) Project aims to manage water resources in the Narmada Valley River in order to improve the water system for drinking and agriculture. The Sardar Sarovar Dam, a 1,450 MW hydroelectric project dam, is a component of the NVD project.
Mumbai Trans Harbour Link
The ambitious $ 2.2 billion Mumbai Trans Harbour Link (MTHL) project aims to connect the western end of the still-under-construction Coastal Road with the eastern end of the Mumbai-Pune Motorway. The 21.8-kilometer-long, 6-lane sea connection highway bridge road can carry 70,000–80,000 vehicles annually. The proposed Mumbai Trans Harbour Link (MTHL) has been planned to facilitate the decongestion of the island city by improving connectivity between the Island city and main land (Navi Mumbai), and the development of the Navi Mumbai Region was envisaged about 30 years back.
To speed up traffic between Mumbai and Navi Mumbai as well as to make it easier for travel from Mumbai to Pune and Goa, a bridge was proposed to be built between Sewri on Mumbai Island and Nhava on the mainland (Navi Mumbai).
Delhi-Mumbai Industrial Corridor (DMIC)
Delhi Mumbai Industrial Corridor Development Corporation (DMICDC), a special purpose vehicle established by the Government of India with representation from the Government of India and Financial Institutions, is specifically intended to coordinate DMIC Project Development, Finance, and Implementation. It is led by a full-time Chairman and Directors. DMICDC will also raise Project Development Fund (PDF) from GOI, GOJ, and FIIs and serve as a pass-through organization for particular projects. The PDF is planned to be recovered from the successful bidders and utilized as a revolving fund, primarily for project development operations (such as DPR preparation, etc.). Additionally, this fund will guarantee continuous funding for a variety of pre-activities. As Directors on the Board of DMICDC, the designators of the respective State Governments and the DFC implementation agency could be represented.
The effort aims to promote economic growth and industrialization along the Delhi-Mumbai freight corridor by building logistics hubs and industrial zones, including ports, airports, motorways, power plants, and schools and hospitals. With a budget of USD 90 billion, the 1,483-kilometer-long DMIC project connects Delhi with Mumbai via Haryana, Rajasthan, Gujarat, and Maharashtra. The project also aims to improve employment opportunities and the country's GDP significantly.