{"id":103681,"date":"2024-08-21T08:26:52","date_gmt":"2024-08-21T08:26:52","guid":{"rendered":"https:\/\/octagona.com\/?p=103681"},"modified":"2024-09-04T13:48:42","modified_gmt":"2024-09-04T13:48:42","slug":"export-to-india-construction","status":"publish","type":"post","link":"https:\/\/octagona.com\/en\/esportare-in-india-costruzioni\/","title":{"rendered":"Exporting to India: construction sector"},"content":{"rendered":"

Exporting to India<\/span> represents a significant opportunity for Italian companies due to their large population and rapidly expanding domestic markets.\u00a0<\/span><\/p>\n

In fact, India not only offers export and investment attractions, but is also a strategic hub for re-export to neighboring countries. Since 2014, under the leadership of Prime Minister Narendra Modi, <\/span>recently re-elected<\/span><\/a>, the Indian government has initiated reforms aimed at making the country self-sufficient and increasing foreign investment.\u00a0<\/span><\/p>\n

Key programs such as \u201c<\/span>Make in India<\/span><\/a>\u201d are at the core of this long-term vision, aiming to transform the nation into a global hub for manufacturing, thereby strengthening the industrial sector and improving national competitiveness.<\/span><\/p>\n

What specific opportunities are opening up for exports to the nation, especially in the construction sector, where the building envelope sector has recorded a <\/span>overall growth of 28.33%<\/span><\/a> In the last five years?<\/span><\/p>\n

\"export<\/p>\n

Gl<\/span>i key incentives for the <\/span>internationalization strategies of Italian enterprises<\/span> In the construction sector in India<\/span><\/h2>\n

The \u201cMake in India\u201d program is the centerpiece of India's economic development focused on intensive manufacturing. The goal is to reduce the economy's historical dependence on services by enhancing the <\/span>manufacturing sector<\/span><\/a> with the goal of increasing it annually by 10%. In parallel, the program aims to increase the number of factories and attract more foreign investment, especially in the infrastructure sector, to modernize facilities and support long-term economic growth.<\/span><\/p>\n

The Indian government is also simplifying bureaucracy to make the country more attractive to foreign investment, with the introduction of deregulation measures aimed at facilitating the entry of foreign capital.<\/span><\/p>\n

Let us now explore what other positive aspects are crucial for Italian exports and need to be considered in the <\/span>internationalization strategies<\/span><\/a> toward this country, with a special focus on the construction sector.<\/span><\/p>\n

Exporting to India<\/span>, focus on current benefits and concessions in the construction industry<\/span><\/h3>\n

In contrast to Western economies plagued by high interest rates and rising energy costs, India is experiencing a remarkable boom in the real estate sector. In the July-September quarter of 2023, the construction sector recorded <\/span>a growth of 13.3%<\/span><\/a> compared with the same period of the previous year and 7.9% compared with the previous quarter, contributing positively to the national GDP. In particular, new residential projects marked an increase of 24%. Early estimates for the full year 2023 indicate real growth of 9.6% compared to 2022.<\/span><\/p>\n

This long-awaited boom, which created millions of new jobs, came after about six years of economic hardship caused by the pandemic. It was driven by rising per capita income, severe housing shortages in major cities, and population growth.\u00a0<\/span><\/p>\n

Growth in the real estate sector is projected to continue for the next three to four years, thus providing excellent export opportunities for the construction industry. Indeed, the government is stepping up efforts to increase the supply of affordable housing through incentives, further encouraging housing development in Indian cities.<\/span><\/p>\n

Access india Initiatives, a gateway to the Indian market<\/span><\/h3>\n

In the context of Make in India, the\u2019<\/span>Access India Initiative<\/span><\/a> is a strategic program aimed at facilitating companies interested in exporting to and investing in India. This program provides a structured platform to support companies in navigating the complexities of the Indian market, offering assistance in various areas, from business operations to legal and regulatory issues. The main objective is to promote sustainable economic growth and create business opportunities that can strengthen bilateral economic relations.<\/span><\/p>\n

Specific benefits of the Access India Initiative, which can also positively impact the construction sector, include:<\/span><\/p>\n