Construction
industry of India
From
Wikipedia, the free encyclopedia
The Construction
industry of India is an important indicator of the
development as it creates investment opportunities across various related
sectors. The construction industry has contributed an estimated 
6708 billion to the national GDP in 2011-12 (a share
of around 8%).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 activities; and small and medium contractors
who work on the subcontractor basis and carry out the work in the field. In
2011, there were slightly over 500 construction equipment manufacturing
companies in all of India. The
sector is labor-intensive and, including indirect jobs, provides
employment to more than 35 million people.
6708 billion to the national GDP in 2011-12 (a share
of around 8%).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 activities; and small and medium contractors
who work on the subcontractor basis and carry out the work in the field. In
2011, there were slightly over 500 construction equipment manufacturing
companies in all of India. The
sector is labor-intensive and, including indirect jobs, provides
employment to more than 35 million people.
Future challenges
The Indian economy has
witnessed considerable progress in the past few decades. 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 per cent. The Union
Government has underlined the requirements of the construction industry.
With the present emphasis on creating physical infrastructure,
massive investment is planned in this sector. The Planning Commission has
estimated that investment requirement in infrastructure to the tune of about 14,500 billion or US$320 billion during the 11th Five Year Plan period.
14,500 billion or US$320 billion during the 11th Five Year Plan period.
This is a requirement of an immense magnitude. Budgetary
sources cannot raise this much resources. Public Private Partnerships (PPP)
approach is best suited for finding the resources. Better construction management is required for optimizing resources
and maximizing productivity and efficiency.
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