Highway Economy Summit
India has the second-largest road network in the world, crossing a total of 5.89 million kilometres. This road network transports 64.5% of all goods in the country and 90% of India’s total passenger traffic uses road network to commute. Road transportation has gradually increased over the years with improvement in connectivity between cities, towns and villages in the country. In India, sale of automobiles and movement of freight by roads is growing at a rapid rate.
The Highway construction in India has increased to 17.00% CAGR between FY16 – FY21. Despite the pandemic and lockdown India has constructed 13298km highways in FY21. The ministry and the government of India aims to boost corporate investments in roads along with introducing business friendly strategies that will balance profitability with effective project execution. The aim is to work on the policies to attract significant invest interest. The target is to build a total of 2.00,000km of national highways is expected to be completed by 2022. The Government of India has allocated Rs. 111 lakh crores (US$ 1.4 trillion) under the National Infrastructure Pipeline for FY 2019-25. The roads sector is likely to account for 18% capital expenditure over FY 2019-25.
As per the Ministry of Road Transport and Highways, the construction of National Highways clocked a record speed of 29.81 km per day in 2020-21