21st Annual Conference on ROAD DEVELOPMENT IN INDIA 2026

India has made significant progress in expanding and modernising its road network. At present, the national highway network stands at over 146,000 km, with the government aiming for 185,000 km coverage by 2030 and a further expansion up to 237,000 km by 2047. 

The awarding landscape is seeing a revival of private sector interest with revised risk-sharing models. NHAI project awards are projected to grow by 9-11 per cent in 2025-26, with a target of awarding 8,500-9,000 km of projects. The hybrid annuity model remains dominant but the government has significantly revamped the BOT-toll model to attract more private capital for high-traffic stretches. Intense competitive bidding, however, has led to aggressive pricing, impacting project viability, construction quality and execution timelines

The overall pace of road construction has been steady, although it has moderated in 2024-25. The construction target for FY 2026 has also been conservative at 10,000 km. Under the Bharatmala Pariyojana, almost 80 per cent of the awarded length has already been constructed. The focus has now shifted to high-speed corridors and expressways.NHAI aims to raise Rs 350 billion-Rs 400 billion through monetisation in FY 2026, as against the budgeted Rs 300 billion. Of this, it is expected to raise Rs 210 billion-Rs 250 billion from new TOT bundles. Round V of the National Highways Infra Trust is also underway. In addition, the launch of the Raajmarg Infra Investment Trust has been a landmark move, allowing retail investors to invest in highway assets. Further, early concessionaires have started selling their portfolios to new investors – signalling a maturing market and creating a secondary market for road assets in India