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Below the Post-Budget 2024 Quote by Manish Mehan, CEO and MD of TK Elevator India

“The Indian real estate sector is expecting the Union Budget 2024–25 to improve liquidity, such as enhanced funding for the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund, which has been crucial in reviving stalled projects. It presents substantial steps under the PM Awas Yojana-Urban, and rural development initiatives are poised to significantly transform the housing landscape in India. With an investment of Rs.10 lakh crore addressing the housing needs of 1 crore families and the construction of 3 crore additional houses, the elevator industry is set to witness a surge in demand, driving growth and innovation within our sector.

Moreover, the significant allocation of Rs.11,11,111 crore for capital expenditure on infrastructure, along with the encouragement for the government to make similar contributions, highlights their commitment to strong infrastructural development. This increased effect will undoubtedly impact the elevator industry, offering us remarkable opportunities to improve urban mobility and support the evolving urban infrastructure”.

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