Hi Prasenjit
First thing, adhere to word limit, try to finish your answer in maximum two pages.
Introduction is good but cut it short. it should be in one small paragraph.
You have explained the importance, potential and challenges in a good manner but that is not the main demand of the question, question is asking what reforms should be there to make it successful.
Brainstorm before writing.
In way forward, you can write reforms like addressing skill deficit, establishing a land bank, introducing innovative financing tools like InVITS, bringing labour reforms and improving ease of doing business etc.
Adhere to the demand of the question.
Do not get demoralised by the marks, keep writing, you will improve.