Construction GVA change rate in India FY 2013-2023

In financial year 2023, the real gross value added in the construction industry across India increased by more than nine percent. This was a decline in the GVA growth compared to the previous year. Due to the impacts of the coronavirus pandemic, the GVA of the construction industry in 2021 witnessed a contraction the first time during the presented period.

Construction industry in India

In the last few decades, the construction industry has had a crucial role in the development of the country's economy. As the process of urbanization accelerates, there has been a huge demand for residential and commercial buildings, infrastructure, transportation, and related technologies. As of the fourth quarter of 2022, India's construction industry was valued at over three trillion Indian rupees.

Road and rail infrastructure

The investments in infrastructure sector of the Indian economy has contributed to about four percent of the country’s GDP. A major component of the infrastructure sector throughout India is road and rail transportation. The subcontinent's road network was the second largest in the world. In financial year 2021, over 1.2 billion metric tons of freight and over 1.2 billion passengers were carried via Indian railways.