Housing and infrastructure push to drive the growth of the construction chemicals market in India
In the Union Budget, the Indian government has announced increased spending on housing and infrastructure-related projects. For the Pradhan Mantri Awas Yojana (PMAY), for instance, the government has increased the allocation by 66% to INR 790 billion. The growing investment will not only increase the supply of affordable housing in the country but will also drive the growth of the construction chemicals market from the short to medium-term perspective. Along with the housing sector, the Indian government has also announced higher spending on infrastructure development. For instance, the government has increased the allocation by 14% to the National Highways Authority of India. A total of INR 1.6 trillion has been allocated for the development of roadways and highways. Furthermore, the government also announced a record INR 2.4 trillion for the Ministry of Railways. The growing spending on infrastructure projects will again support the construction chemicals industry in India o...