Page 32 - CV Aug-Sep 2023 Issue

THE ECONOMY AND

THE CONSTRUCTION INDUSTRY- INDIA

he construction industry is the contributing to the nation's Gross nuclear power plants, etc. Civil
second largest industry in India Domestic Product (GDP), there are still engineering applies to all other built
Tafter agriculture. It contributes some issues that the construction structures like roads, bridges , tunnels,
significantly to the national economy and industry hasn't been able to solve or has dams, canals, etc. Liberalisation of the
generates a lot of job opportunities. The been solved. Still, they cannot implement Indian economy helped in the inflow of
products of the construction industry form the plan due to the lack of funding foreign and domestic investment into
investments or capital goods. Hence the available to them. Such challenges infrastructure projects employment in the
construction section plays a significant include disaster-resilient construction, construction sector touched million by the
role in output generation and affordable housing, water management, year and continues to grow.
employment. Using new technologies and mass transportation.
and deploying new project management The construction industry, being labour-
strategies has made it possible to Building and civil engineering are two intensive, demands both skilled and
undertake large-scale projects . Even broad categories of the construction unskilled labour. In the past years, there
though the industry is well developed in industry. Building refers to projects that wasn't enough skilled labor available to
terms of providing job opportunities and involve houses, offices, shops, hospitals, be employed, in the construction industry.

CONSTRUCTION VISION 30 AUGUST - SEPTEMBER 2023