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India: Building and Construction in India 2021-2025: May 2021 Update

Revisions to historical data now see the volume of total construction work done to have declined less than previously estimated, falling 11.3% in 2020. Signs of a recovery began to show post lockdown, as work ramped up on construction sites and as sentiment continued to improve into Q1 2021. However, the re-emergence of Covid-19 cases is expected to dampen some of the momentum in the 2021 (+10.8%) recovery. The return to growth is now expected to be a little more drawn out as various restrictions remain in place. There continues to remains significant downside risks to this growth profile should more stringent restrictions need to be implemented.

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