|Fri Oct 16, 2015||Total posts : 4
| Topic: The construction and infrastructure sector in India
construction industry is the second largest industry in the country after the
Agriculture industry. It provides a significant contribution to the economy and
is responsible for providing employment to a large number of people. The
total approximate earnings from this sector during Financial year 2014-15 was Rs 1,07,074 crore compared to Rs 93,476 crore
in the Financial year 2014-15, with an increase of 14.5 per cent.
The construction industry in India has accounted for
around 40 per cent of the development investment during the past 50 years.
Around 16 per cent of the nation's working population depends on construction
for its livelihood. The Indian construction industry employs over
30 million people and creates assets worth over ? 200 billion.
The industry is fragmented, with a handful of major companies involved in the construction
activities across all segments; medium-sized companies specializing in niche
activities; and small and medium contractors who work on the subcontractor
basis and carry out the work in the field.
Most of the infrastructure development sectors moved forward, but not to the
required extent of increasing growth rate up to the tune of 8 to 10 % and this
is why the Union Government has underlined the requirements of the construction
industry to ensure further growth in this sector and maintain even flow of
employment and income. From the Financial year 2014, we’ve witnessed a further
growth this industry with considerable help and boost from the Make in India campaign, a major
national program designed to transform India into a global manufacturing hub by
Prime Minister Narendra Modi.
Revenues have increased at a rate of 8.38% during the financial year of
2014 and are further estimated to rise at the rate of 13.1 per cent on rapid
infrastructure development undertaken by the Government. The Government has also earmarked Rs. 50,000 crore to develop
100 smart cities across the country, and released its list of 98 cities for the
smart cities project in August 2015. And announced highway projects
worth US$ 93 billion, which include government flagship National Highways
Building Project with total investment of US$ 45 billion over next three years. The
World Bank has approved a US$ 650 million debt funding for a part of the
eastern arm of the Dedicated Freight Corridor project in India. Along
with which the Government of has also relaxed rules for FDI in the construction
sector by reducing minimum built-up area as well as capital requirement. It has
also liberalized the exit norms. In fact, the Cabinet has also approved the
proposal to amend the FDI policy.
Concluding which, it’s safe to say that the next couple years
are going to be moments of reckoning for the construction industry of our
country to demonstrate its managerial, financial and technical prowess to
establish new benchmarks in construction management, construction quality,
imparting value addition to its products and services in critical construction
equipment product line. And with Make in India 2.0 emerging in the scenario,
we’re headed to a larger construction sector, which will further help with the
growth in the Average GDP and increase the rate of Employment in our country.
|Sat Oct 17, 2015||Post #1|
Join date: May 2014
|Sat Oct 17, 2015||Post #2|
|S L Gupta (Civil Engg)|
Join date: Mar 2008
Thanks a lot for valuable information.
|Thu Mar 04, 2021||Post #3|
Join date: Jan 2021
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|Fri Mar 05, 2021||Post #4|
Join date: Mar 2021
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