Building And Construction In Asia Pacific > India > India

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

Total construction work done (real terms) is expected to have declined in Q2, with construction gross value-added (GVA) figure plummeting 27.6% q/q. The sector was hit hard by the second COVID-19 wave. Nevertheless, levels remain above the previous year, up 68.2% y/y. We expect activity to bounce back over H2 2021 as the economy reopens. Overall, work done is forecast to rise by 11.1% in 2021 (down from a previous +11.3%) and 12.1% in 2022. But risks to our outlook remain skewed to the downside given India’s vulnerability to another severe pandemic outbreak, and the current material supply issues. 

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