Indian cities: the fastest growing in Asia
India truly is one of the world’s most vibrant, active construction markets; one market that just got more appealing for international investors.
According to a report from Oxford Economics ranking Asia’s 30 largest cities, India’s urban areas will see the fastest economic growth throughout the continent over the next five years. Delhi, India’s capital city, is expected to lead the charge.
The conditions are ripe for city expansion, both economically and physically, in India right now. For starters, India’s economy is the fourth fastest growing in the world. The World Bank has earmarked a 7.2% growth rate for 2017.
Towns and cities are spreading out rapidly. India is now home to over 50 cities with over a million inhabitants. With the country’s Housing for All initiative, spearheaded by Prime Minister Narenda Modi, expect municipalities to expand even further as housebuilding picks up.
So what are the key drivers behind this forecast construction industry advancement? Let’s take a look.
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