Dec 13, 2012, 06:22PM IST
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The Indian construction industry is an integral part of the economy and a conduit for a substantial part of its development investment. It is poised for growth on account of industrialization, urbanization, economic development and people?s rising expectations for improved quality of living.
?Construction industry happens to be the largest contributor to the growth of national economy and has consistently shown a robust growth trend compared to other sub sectors. With building assets worth Rs 4.18 lakh crores, this sector enjoys the status of the largest employment generator as well?, says Dr. Priya Ranjan Swarup, Director General, Construction Industry Development Council (CIDC) while MagicBricks.com chat forum called GuruTalk. He addressed over 50 user queries related to construction industry and building specifications.
However, he believes that construction industry faces acute shortage of skilled workers. Stating the reasons Dr Swarup says, ?The reasons are lack of training initiatives by industry constituents and keeping pace with ever changing construction methodologies. The working conditions too need substantial improvement which is where the employers need to change the mindset?.
On asking what kind of constraints construction industry faces today? Dr Swarup says, ?Lack of skilled manpower, a weak and amorphous regulatory framework, poor procurement practices, indifferent institutional lending conditions, absence of risk mitigation majors are some of the major bane.?
Construction is expected to be the biggest beneficiary of the surge in infrastructure investment over the next five years. ?Construction activities provide direct employment to Rs 4.35 Crore able bodied adult citizens. This also provides full sustenance to several core sector activities in the nation. Cement industry, steel industry, light engineering goods industry, glass, paint, tiles & automotive tyres manufacturing industry draws the sustenance from construction activities. Even banking & insurance business depends on welfare and well-being of construction industry,? he adds.
So what is the future of the construction sector in India? Dr Swarup says that the requirement of the physical infrastructure is being felt by the common citizens and this translates into substantial amount of construction work happening for next few decades. Till such time we are able to match the quality of life of people with compared to developed economies. The govt has recognized this & envisaged this investment in constructing the physical infrastructure in 12th plan is 1 trillion USD.
Neha Nagpal, Magicbricks.com Bureau
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