“American roads are not good because
America is rich, but America is rich because American roads are
good," US President John F Kennedy once said.
How true it is getting for India!
The Centre for Economics and
Business Research (CEBR), a London-based consultancy, predicted that India will
be a USD 10 trillion economy by 2035 and the third-largest economic power by
2030. However, many expect it may be achieved earlier due to a likely higher
growth rate than the study indicated. One of the reasons for this outstanding
growth is the phenomenal growth in Infrastructure, especially Roads &
highways.
Mr Akhilesh Srivastava, Ex-NHAI and Road Safety Ambassador of the
International Road Federation(IC), WEF and many international/national
organisations, have been appointed as the Chairman of the Bitumen Indian Forum
by the members. Mr Akhilesh Srivastava is a globally known digital technology
leader with vast experience in successfully implementing many e-Governance
programs in India, including FASTag. His recently launched technology-based next-gen Road Safety 2.0 initiative, which
encourages the adoption of technology in road safety to compensate for human
and engineering limitations, is a highly successful model in India.
Thanking everyone for trusting him with the coveted
responsibility, Mr Akhilesh Srivastava said that Bitumen
remains a primary material frequently used in road construction due to its
excellent qualities and benefits over other materials. The annual
consumption of Bitumen in India is approximately 8 MT (million tons), which should
increase as India has the world’s 2nd largest road network after the
USA. Still, its Bitumen consumption is relatively low compared to other
countries. The current annual consumption of Bitumen in India is approximately
8 MT, which has the potential to double by 2030.
Bitumen, a by-product of crude oil, is
known for its adhesive and waterproofing abilities. More than 250 uses exist
for this substance today, including paving roads, roofing, waterproofing,
sealing, and insulating. In addition, it enables the design and engineering of
asphalt-based streets, runways, motorways, highways, coastal protection, canal
linings, driveways, airport, reservoirs, footpaths, cycle paths, parking areas,
and sports and sports play areas.
The infrastructure development programs initiated by the Government
of India, such as the Bharatmala project, Golden quadrangle project,
construction of various industrial and economic corridors like the Delhi-Mumbai
Industrial Corridor, Bengaluru-Mumbai Economic Corridor, Chennai-Bengaluru
Economic Corridor, Vizag-Chennai Industrial Corridor, and Amritsar-Kolkata
Industrial Corridor for the construction of highways and express ways drive the
demand for Bitumen to unprecedented levels. In addition, the Government
initiatives such as Pradhan Mantri Gram Sadak Yojana,which includes the provision
of good all-weather road connectivity to unconnected villages of the country are
driving market growth further.
Moreover, bitumen is widely used to waterproof the roof
of the building. Therefore, government initiatives such as the “Smart City
Mission” and Pradhan Mantri Awas Yojana (PMAY), including building houses in
urban and rural areas, boost the Bitumen market growth. The significant
development in the Indian construction industry and industrial development
across the country will drive the growth of the bitumen industry in the coming
years.
According to a report published by Allied Market
Research, the Indian Bitumen market is projected to cross Rs 50,000 Crores by
2026 and add allied services such as transportation, storage, testing and
quality checks etc., the market size of Bitumen will be much more significant.
However, growing health & environmental concerns over
the production and usage of bitumen, human health & environmental issues
associated with bitumen, unsettled crude oil prices, and a rise in the use of
an alternative for bitumen are expected to restrain the growth of the market
too. Moreover, the development of bio-based bitumen and EME (Enrobés á Module
Elevé) binder is expected to provide growth opportunities for the Indian
bitumen market in the near future.
While talking to the correspondents, Mr Akhilesh Srivastava said that his primary focus would be ensuring the availability of the
best quality Bitumen for infra development. For this, he would work with
Manufacturers, Oil PSUs, Customers, Importers, Traders, Transporters, Road Developers,
Government and Regulatory bodies and other stakeholders in the ecosystem to
develop the best practices and a cohesive environment.
His other priorities will include
enhancing the reputation & awareness of the Bitumen Industry, identifying
the problems of the Industry and bringing them to the knowledge of people who
can solve them.
He said the Forum would serve as
a facilitator for Innovations in the Bitumen Industry, bringing the best global
technologies and practices to India and vice-versa. The Forum should be a
knowledge-sharing platform for any Bitumen-related topics, research &
innovations and update the industry with upcoming trends. He expressed his
concern for the environment andsaid he would encourage innovation in Green
Bitumen.
Being a reputed Road Safety leader, Mr Akhilesh
Srivastava said he would focus on improving the safety of Bitumen Industry workers
by training and skilling them with
the best industry practices.
