Benchmark
$1.3 Trillion Housing Boom Set to Be India's Next Growth Driver
Catalyst will be government’s affordable housing push
Workers in hi-vis jackets prepare reinforcing steel during construction in Mumbai, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
In a country where slums sit cheek-by-jowl next to palatial luxury -- including what’s been reported as the world’s most expensive private home -- India’s unhoused may soon become a more potent economic growth driver.
Prime Minister Narendra Modi’s drive to bring homes to the country’s 1.3 billion people, rising incomes and the best affordability in two decades will unleash a $1.3 trillion wave of investment in housing over the next seven years, according to CLSA India Pvt.