A major engine of the Indian economy is the country’s infrastructure industry. It has a significant impact on India’s overall development and serves as a catalyst for the country’s economic expansion. Indian construction sector is the largest in terms of FDI inflow which stood at US$ 1,488.80 million during the financial year 2021-22.
Global investors increasingly view India as a top destination for infrastructure projects. India offers a higher rate of return on infrastructure investments due to its young demographic, growing urbanization and increasing domestic market.
Thus, an already dynamic infrastructure sector is experiencing transformation like no other. Technology and digitization have changed the way the sector functions. There is a growing emphasis on innovating the status quo, automation, security, and sustainability.
The Latest trend in infrastructure is towards cloud computing and the adoption of microservices architecture. Additionally, there is a move towards edge computing and the Internet of Things (IoT) to handle the increasing amount of data generated by connected devices in both residential & commercial projects. Another trend is the use of containers and container orchestration tools such as Kubernetes to manage the deployment, scaling, and management of applications.
Inclusivity
Inclusive infrastructure refers to the design and implementation of infrastructure that takes into account the needs and perspectives of a diverse range of users and communities, including marginalized or disadvantaged groups. This approach seeks to ensure that everyone, regardless of their background or circumstances, has access to and benefits from essential infrastructure services such as transportation, energy, water, and communication systems.
Inclusive infrastructure aims to address social and economic inequalities and promote more equitable outcomes for all members of society. By taking into account the needs of diverse communities, inclusive infrastructure can help to build more resilient and sustainable communities and foster greater social cohesion.
The latest trend in inclusive infrastructure is towards creating infrastructure that is more accessible, affordable, and responsive to the needs of diverse communities. This includes:
- Universal access to digital infrastructure: Bridging the digital divide by providing access to high-speed internet and technology to all, regardless of income or location.
- Age-friendly infrastructure: Designing infrastructure that is accessible and usable by people of all ages and abilities.
- Sustainable infrastructure: Implementing environmentally sustainable infrastructure solutions that also benefit marginalized communities.
- Community-led infrastructure: Engaging communities in the planning, design, and management of infrastructure projects to ensure they meet the needs of local residents.
- Infrastructure financing: Developing innovative financing mechanisms to support inclusive infrastructure projects, such as social impact bonds and public-private partnerships.
Overall, the trend towards inclusive infrastructure is driven by a recognition of the need to address social and economic inequalities and create infrastructure that serves the needs of all members of society. By prioritizing accessibility, affordability, and sustainability, inclusive infrastructure can help to build more resilient and equitable communities.
Equity
Equitable distribution refers to the fair and just distribution of resources, benefits, and opportunities within a society. In the context of infrastructure, it means that the benefits of infrastructure investment are distributed fairly and equitably across different communities and demographic groups, taking into account their diverse needs and perspectives.
For example, equitable distribution of infrastructure may involve investing in infrastructure projects that benefit low-income communities and communities of color, or implementing infrastructure projects that are accessible to people with disabilities.
Equitable distribution of infrastructure is important for promoting social and economic equality and reducing inequalities within society. By ensuring that everyone has access to essential infrastructure services and opportunities, equitable distribution can help to create a more inclusive and just society.
The Future of the Infrastructure Industry
Overall, the future of the infrastructure industry will be characterized by a focus on innovation, sustainability, and inclusivity, as the industry seeks to address the growing demand for infrastructure and support economic growth and development. Digital transformation, sustainability, public-private partnerships (ppps), decentralization, smart infrastructure and inclusivity will become the key enablers of growth for the sector.