IBEF-印度道路与基础设施产业分析（英文）-2018.10-28页-1mb

报告摘要

Summary of India's Road Infrastructure Development

Core Content

India's road infrastructure sector is one of the largest in the world, with a vast network that supports both freight and passenger traffic. The government has been actively investing in the development of national highways and promoting private sector participation through public-private partnerships (PPP) and other policy initiatives. These efforts have led to significant growth in the road construction industry, with increasing numbers of commercial and personal vehicles contributing to the demand for better infrastructure.

Main Points

1. India's Road Network

India has the second-largest road network globally, spanning over 5.5 million kilometers.
64.5% of goods and 90% of passenger traffic in the country is transported via roads.
The National Highway Development Project (NHDP) is a 7-phase initiative aiming to widen, upgrade, and rehabilitate 47,054 km of national highways, with a total investment of US$ 60 billion.

2. Growth Drivers

Highway construction has grown at a CAGR of 23.25% between FY14-18.
In FY18, 9,829 km of highways were constructed, with an expenditure of Rs 1.16 trillion (US$ 18.05 billion).
The government aims to construct 40 km of roads per day in FY19 and complete 200,000 km of national highways by 2022.
Private sector involvement has increased significantly, with 1,529 PPP projects as of October 15, 2018, and 740 of these related to roads and bridges.

3. Investments and Funding

The Government of India allocated Rs 71,000 crore (US$ 10.97 billion) for national highways in FY19.
FDI inflows in construction development have reached US$ 24.87 billion as of June 2018.
CPPIB (Canada Pension Plan Investment Board) plans to invest US$ 322 million in India's infrastructure.
International funding is also being used, such as a US$ 500 million loan agreement with the Asian Development Bank for a bridge across the Ganga in Bihar.
Infrastructure Debt Funds (IDFs) are being encouraged to support long-term financing for infrastructure projects.

4. Key Projects and Initiatives

The Special Accelerated Road Development Programme (SARDP-NE) targets 88 district headquarters in the North East to connect with national highways, with a total investment of Rs 1.45 lakh crore (US$ 22.40 billion) from 2018–2020.
The Bharatmala Project Phase-I involves 6,320 km of projects worth Rs 1.44 trillion (US$ 21.48 billion), with a total of 34,800 km proposed.
PMGSY (Prime Minister's Gram Sadak Yojana) has been successful in connecting 85% of rural habitations, with Rs 19,000 crore (US$ 2.93 billion) allocated in 2018–19.
The Gram Sadak Yojana received a US$ 210 million deal with the World Bank in 2018.

5. Policy Support

Tax exemptions and incentives for companies involved in road projects, including 100% tax exemption for 5 years and 30% relief over the next 5 years.
Excise duty on petrol and diesel was converted into a road cess of INR 4 per litre to fund road development.
The Goods and Services Tax (GST) on construction equipment was reduced to 18% from 28%.
Infrastructure Debt Funds (IDFs) are being promoted, with the IIFCL Mutual Fund launching an IDF scheme in May 2018.

6. Private Sector and PPP

Private sector involvement has increased over the years, with 312 projects recommended for development by the PPPAC as of September 2017.
US$ 31 billion is expected to be invested in national highways via PPP by 2020.
BOT (Build-Operate-Transfer) projects have seen 37.03% of total PPP projects awarded in 2018.
NHAI has awarded 150 road projects in FY18, covering 7,400 km.

7. Industry Associations

Ministry of Road Transport and Highways (MoRTH): Key government body overseeing road development.
National Highway Authority of India (NHAI): Manages the development and maintenance of national highways.
Indian Roads Congress (IRC): A professional body for road development and standards.

Key Information

Total national highways to be completed by 2022: 200,000 km.
Annual highway construction in FY18: 9,829 km.
FDI in construction development: US$ 24.87 billion as of June 2018.
Total investment estimated for FY19: Rs 1.58 trillion (US$ 2.25 billion).
Exchange rates (US$ to INR): Vary between 44.11 (2005) and 70.18 (Q2 2018–19), with Rs 1.21 lakh crore (US$ 18.69 billion) allocated for the road sector in 2018–19.

Conclusion

India's road infrastructure sector is experiencing robust growth driven by government investments, private sector participation, and policy support. The country's second-largest road network is continuously expanding to meet the rising demand for connectivity, supported by tax incentives, infrastructure debt funds, and international funding. The Bharatmala Project, PMGSY, and SARDP-NE are among the major initiatives aimed at improving both urban and rural connectivity. The future outlook remains positive, with continued focus on PPP models, BOT projects, and infrastructure development.