This report provides a regional overview of India’s industrial sector for FY 2023-24, with a particular focus on the manufacturing and warehousing segments. These segments, documented by Biltrax Construction Data (hereafter referred to as Biltrax) through the BX-2 platform, explore key trends and major players influencing the region’s construction industry.
Introduction
India’s industrial sector is a dynamic and integral component of the economy, playing a pivotal role in the country’s growth and development. Encompassing a diverse range of subsectors, the industrial sector drives innovation, generates employment, and contributes significantly to India’s GDP. It includes manufacturing, logistics & warehousing, aerospace & defense, food & beverage, rubber & plastics, textiles & apparel, renewable energy, and consumer goods.
The manufacturing segment is the backbone of India’s industrial landscape, emerging as an integral pillar in economic growth. In the last financial year (FY 2023-24), many companies focused on expanding their current plants to increase production capacity. This includes both domestic companies and foreign investors looking to capitalize on India’s growing market. New manufacturing hubs were developed, especially in states like Gujarat, Maharashtra, and Tamil Nadu. Moreover, as part of the government’s strategy, India aims for USD 100 billion annual foreign direct investment (FDI) in the coming years. Noteworthy initiatives such as the Production Linked Incentive (PLI) schemes helped boost production capabilities across various industries, including electronics, automotive, and pharmaceuticals.
Meanwhile, in the warehousing segment, the boom in e-commerce significantly boosted the demand for warehouse space. The demand for modern, automated warehousing facilities increased. Consequently leading to the development of large-scale logistics parks across key regions. Companies invested in building state-of-the-art logistics centers to streamline their supply chains. Many new warehouses incorporated sustainable practices, including energy-efficient designs, solar panels, and rainwater harvesting systems. This trend aligns with broader environmental goals and reduces operational costs in the long run.
Also Read: India’s Construction Industry in FY 2023-24: A Zone-Wise Analysis
BX-2
Biltrax’s BX-2 platform is a comprehensive resource for non-building projects across India. It covers diverse segments such as Roads & Highways, Industrial/Manufacturing, Warehousing, and Water Supply & Distribution. Our dedicated team of analysts meticulously tracks and monitors industrial projects within this extensive framework. BX-2 tracks over 20,000 projects, offering detailed information on construction volumes, geographies, roles and specializations, project durations, etc. By leveraging the platform, stakeholders gain valuable insights and strategic advantages, facilitating informed decision-making and efficient project execution in India’s dynamic construction sector.
As we progress, we will discuss the specific analytics for each zone, providing actionable insights drawn from our extensive data platform.
Biltrax tracks projects zone-wise as elaborated below
– North Zone – Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, Chandigarh, Ladakh.
– North East Zone – Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura.
– East Zone – Andaman & Nicobar Islands, Bihar, Jharkhand, Orissa, West Bengal.
– West Zone – Dadra & Nagar Haveli, Daman & Diu, Goa, Gujarat, Maharashtra.
– South Zone – Andhra Pradesh, Karnataka, Kerala, Lakshadweep, Pondicherry, Tamil Nadu, Telangana.
– Central Zone – Madhya Pradesh, Chhattisgarh.
Also Read: Driving Growth & Success – Biltrax’s Mission & Vision for the Construction Industry
Utilizing Biltrax Construction Data for Strategic Insights
Analyzing regional dynamics through zonal analytics empowers stakeholders to make well-informed decisions and uncover opportunities specific to each zone’s distinctive attributes.
Biltrax plays a pivotal role in tracking and analyzing construction projects across India. As of June 2024, Biltrax monitors 50,507 live construction projects. These encompass more than 16.80 Billion-SqFt of construction area and a total estimated construction value of INR 9,580,862 Crore (USD 1.13 trillion). During FY 2023-24, the BX-2 platform documented 4,119 industrial projects covering 1.32 Billion-SqFt & INR 1,196,530 Crore of project value. Our zonal analysis for the last financial year highlights diverse construction activities across India’s six zones. The East Zone leads with the highest project value (346,813 INR-Crore) encompassing a total construction area of 275.19 Million-SqFt. This accounts for over one-third of India’s total construction project value. The West Zone follows closely, with projects covering 381.18 Million-SqFt of construction area and a project value of INR 343,978 Crore.
| Zone | Project Nos | Construction Area (Million-SqFt) | Project Value (INR-Cr) | % by Project Value |
| East | 644 | 275.19 | 346,813 | 28.98% |
| West | 1000 | 381.18 | 343,978 | 28.75% |
| South | 1024 | 418.17 | 296,646 | 24.79% |
| North | 1058 | 150.05 | 111,816 | 9.35% |
| Central | 250 | 82.32 | 51,485 | 4.30% |
| North-East | 143 | 18.53 | 45,792 | 3.83% |
| TOTAL | 4,119 | 1,325.44 | 1,196,530 |
Major Sub-segments
In the last financial year, BX-2 recorded 3,880 projects across major sub-segments of the manufacturing sector. These projects encompass a total area of 1,135 Million-SqFt with a total project value of INR 1,160,863 Crore. Prominently, the steel sector led the region in terms of project value, accumulating nearly 26.63% of the total. This impressive surge can be attributed to the escalating demand for steel products, fueled by the booming automotive, construction, and infrastructure industries. The increasing reliance on steel in these sectors underscores its essential role in meeting the growing need for robust and adaptable materials. Additionally, government initiatives to boost domestic manufacturing capabilities and reduce dependency on imports have further driven these investments.
| Sr. No. | Sub-segments | Project Nos. | Project Value(in INR-Cr) | % by Project Value |
| 1 | Steel | 217 | 309,140 | 26.63% |
| 2 | Electronics | 155 | 170,703 | 14.70% |
| 3 | Chemicals | 453 | 170,215 | 14.66% |
| 4 | Metal | 501 | 126,260 | 10.88% |
| 5 | Cement | 119 | 99,566 | 8.58% |
| 6 | Food Processing | 882 | 92,469 | 7.97% |
Also Read: Over 1279 New Construction Projects Tracked in June 2024
In summary, India’s industrial sector is a vibrant and multifaceted domain, driving economic progress and innovation. With continued investments and supportive policies, the sector is well-positioned for sustained growth. Zonal analytics are crucial for understanding the nuanced regional dynamics of India’s industrial sector. They offer essential insights that help stakeholders navigate this complex landscape. By leveraging data from Biltrax Construction Data, industry players can access detailed and real-time information on construction projects across India.
Biltrax’s robust analytics and detailed reporting enable construction material manufacturers and investors to effectively plan and execute their strategies. This ensures alignment with regional demands and opportunities. Such an approach enhances efficiency and drives sustainable growth in India’s dynamic construction sector.
Over the next few weeks, we will elaborate on the specifics of each zone, covering construction volumes and key stakeholders in each geography.
Contact us today to learn more about how we can help you succeed in the construction industry.
References: Biltrax Construction Data (BX-2 Platform), Central Statistics Office, FICCI, Economic Survey of India, DPIIT, Media sources, Ministry of Skill Development and Entrepreneurship, Economic Survey 2022-23, Union Budget 2023-24, Press Information Bureau, News Articles, IBEF Annual Reports.
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