MUMBAI: India’s infrastructure market is expected to touch USD 6.6 trillion by 2025, which will be nearly 12.5 per cent of the Asia-Pacific, says a report.
According to consultancy firm PwC, the Asia Pacific infrastructure market is expected to grow by 7-8 per cent a year over the next decade to over USD 53.6 trillion by 2025 and representing nearly 60 per cent of the world total.
The increase in infrastructure spends in the country is likely to be driven by sectors like housing, telecom, healthcare, education, transportation, among others, it said.
“Overall, India’s share of the Asia-Pacific infrastructure market is expected to continue to grow, reaching around 12.5 per cent or USD 6.6 trillion by 2025,” PwC said in its report.
According to the report, transportation and utilities investments are expected to triple over the coming decade as income and travel demand will rise and the country’s population will increasingly congregate in urban centers.
“The ongoing development of technology services sector, as well as demand from households, is likely to drive investment in telecommunications infrastructure. The population is expected to grow much faster than other countries in the region, which will further boost demand for infrastructure sectors serving households,” the report said.
While annual healthcare investment is forecast to grow around USD 37 billion by 2025, education infrastructure spending will likely to reach USD 18.9 billion.
The huge growth in infrastructure spending will be driven by key factors such as Asia’s economic growing prominence, trade competitiveness, and the current widely recognized infrastructure deficit across the emerging markets of this region.
“Asia is now the world’s primary growth engine, with China, India and Southeast Asia offering a very large consumer base and low-cost workforce, with high levels of natural resources,” PwC India Leader Capital Projects and Infrastructure Manish Agarwal said. -PTI
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