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India: Building and Construction in India 2020-2024: September 2020 Update

​The construction sector is expected to have fared worse as lockdown measures and consequent supply side issues put a halt on construction work done over Q2 2020. The forecast slower economic recovery will also place downward pressure on the sector, which will see construction work done (real terms) decline 16.4% (from a previous -4.0%). The decline is expected to be led by residential (-25.8%) followed by non-residential (-20.1%) building, as both supply and demand for buildings remains weak given an uncertain economic environment. Civil engineering does not escape these declines, with an expected fall of 3.0%. Inflationary pressure over the short run, driven by supply constraints will also escalate project cost, which may also hamper the roll out of projects.

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