After a robust surge in fresh investment announcements in July 2024, August witnessed a subdued growth pattern. The private sector maintained its year-on-year growth momentum, but the public sector could not sustain July’s strong performance. The overall growth in August stood at 13.69%, largely driven by the Manufacturing and Infrastructure sectors, with 41 mega projects announced, totalling Rs 1,52,026 crore.
Key sectors like Manufacturing and Infrastructure sustained healthy year-on-year growth rates, contributing significantly to the overall investment growth in August 2024.
Manufacturing: Following a stellar performance in July, the Manufacturing sector maintained its momentum in August 2024. Compared to 118 projects worth Rs 28,780.60 crore in August 2023, the sector announced 167 projects worth Rs 38,480.33 crore in August 2024, reflecting a 33.7% annual growth. This sector attracted six mega projects worth Rs 25,670 crore, with healthy investments in the Pharma, Steel, and Machinery segments. Among the mega projects, the notable ones were a Rs 16,580 crore integrated steel project by Lloyds Metals, and a Rs 3,464 crore solar cells and modules project by Premier Energies.
Infrastructure: The sector recorded a year-on-year growth of 27.33% in August 2024, driven by 20 mega projects worth Rs 70,358 crore. Despite a decline in the number of projects from 733 in August 2023 to 690 in August 2024, the total investment rose from Rs 1,16,297.92 crore to Rs 1,48,080.06 crore. Sub-sectors like Community Services, Power Distribution, and Real Estate led the growth. Major projects included a Rs 8,672 crore, ropeway by Ropeways & Rapid Transport System Development Corpn. H.P., and a Rs 2,172 crore Delhi Sports University project.
In the Roadways sector, 84 new projects worth Rs 9,836 crore were announced, though NHAI took up 11 new projects none of these were mega project. The Power Distribution sector saw increased capital expenditure with 46 new projects totalling Rs 17,516 crore. Key projects included the Rs 5,028 crore Sirohi/Nagaur Complex Transmission system by REC Power and the Rs 6,479 crore Mundra Transmission Project by Adani New Industries. The Real Estate sector continued its strong performance with 234 new projects worth Rs 62,446 crore, achieving a year-on-year growth of 105.35%. High-value projects included a Rs 15,000 crore satellite township by Srinagar Development Authority and a Rs 5,600 crore residential-cum-commercial complex by Blue Keys Property.
Electricity: The sector saw a decline in fresh investments compared to July 2024, with 40 new projects totalling Rs 55,670 crore, marking a 9.68% year-on-year decrease, primarily due to the absence of new Pumped Hydel Power projects, which were driving the upward investment movements in the recent past. However, investments in Thermal Power and Solar/Wind Power increased by 32.76% and 69.61%, respectively. Notable projects included a Rs 14,000 crore, 1,600 MW coal-based power plant by NTPC and a Rs 9,800 crore, 1,320 MW project by Jindal India Thermal Power. In the non-conventional power segment, key projects were a 250 MW, Rs 1,250 crore solar photovoltaic power project by SAEL Industries and a 230 MW, Rs 1,150 crore solar power project by JSW Neo Energy.
Mining: The sector posted a 20.51% year-on-year growth in August 2024, driven by the announcement of a Rs 5,366 crore, 3 million TPA Sonepur coal mining project by Eastern Coalfields, with a total of nine new projects worth Rs 6,899.63 crore.
Irrigation: The sector announced 11 new projects worth Rs 2,105.66 crore, including a notable Rs 1,347.32 crore drinking water supply project in Bihar.
