Fitch: Indian residential construction sector to grow 7.9% in 2021, robust growth until 2030

Friday, 26 March 2021 14:24:10 (GMT+3)   |   Kolkata
       

Driven by sustained demand for housing amid supportive Indian government policy, the residential building sector in India will see a strong rebound in 2021 and robust growth over the next decade, rating agency Fitch said in a report on Friday, March 26.

According to Fitch, this growth will be a key river of a robust recovery in India’s residential construction industry overall, and it has forecast that it will expand in real terms by 7.9 percent in 2021, followed by average yearly growth of 6.5 percent until 2030.

The positive outlook for residential building in the country will be supported by strong national-level housing sector policy by the government, reflected in the allocation of sizeable funding for housing in the current year including the $6.9 billion in the national budget allocated to the Ministry of Housing and Urban Development, as well as creation of a $3.5 billion fund to support completion of stalled housing projects across the country.


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