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India a key contributor in global construction industry pegged to reach $14.41 trillion by 2030
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The concrete, construction and infrastructure industry are highly responsible for propelling India’s overall development and enjoys intense focus from the government for initiating policies that would ensure the creation of world-class infrastructure. Increasing government investments in projects like the Sagarmala Program, Bharatmala Pariyojana, Gati Shakti Master Plan, development of 21 Green Field Airports in the …
The concrete, construction and infrastructure industry are highly responsible for propelling India’s overall development and enjoys intense focus from the government for initiating policies that would ensure the creation of world-class infrastructure.
Increasing government investments in projects like the Sagarmala Program, Bharatmala Pariyojana, Gati Shakti Master Plan, development of 21 Green Field Airports in the country etc., has made the Indian market highly competitive and holds opportunities not only for big but also for small and medium players.
Amidst the pressing environmental challenges, especially regarding the cost of energy and increased overcapacity, World of Concrete India 2022 has presented technologies and solutions by bringing together the leading thought leaders, policymakers, and innovators in this space.
World of Concrete India is one of the leading trade fairs in the country, dedicated to concrete, where hundreds of exhibitors participate to showcase everything from cement to pumps, precast manufacturing products, technology, admixtures, testing and repair, and much more.
The show highlighted that innovation and sustainability are the need of the hour, and with its enhanced features, this year’s edition saw participation from over 7,000 visitors with more than 150 exhibitors, and over 50 speakers.
Key exhibitors included UltraTech, Schwing Stetter, Asian Paints, Jet Formworks, Mcon Rasayan, ESS EMM Chemicals, HROC, Vyara Tiles, VT Corp, Infinity Woodcraft & many more among many others. World of Concrete India 2022 is primarily supported by the Builders Association of India, the Water Proofing Association of India, and the Gujarat Contractors Association.
The Indian economy’s engine of growth and lifeline is its Infrastructure. India is expected to become the third largest construction market globally in 2022. The Government has focused immensely on developing better infrastructure across all sectors, be it National Highways, New Airports, among others, with the launch of INR. 1 trillion Gati Shakti National Master Plan.
Yogesh Mudras, Managing Director, Informa Markets in India said, “Population growth, urbanization, industrialization, and new economic opportunities equate to record expansion built on concrete. High levels of public and private investment are poised to catapult the construction boom and its demand for concrete. Innovation is the bedrock for moving to the next level. World of Concrete India held at BEC, Mumbai witnessed several innovations, patented products and technologies poised to be game changers for the industry. The event will play a key role in bringing the construction and infrastructure industries together and aiding the infrastructure industry growth, which is slated to reach $1.4 trillion by 2025.”
Amit Bansal, Partner, Deloitte India said, “Events like World of Concrete India are extremely important to create awareness about new construction techniques, new machinery, new equipment, and once we are all aware of such new technology it will lead to usage. The scale and speed at which some of these techniques should be adopted need to increase significantly.”
Toshihiro Kaneko, Deputy Consul General, Japanese Consulate said, “India has a bright future and Japanese companies would like to participate in this development and growth within India. We are happy to participate at the World of Concrete show to underline our commitment towards development in India”.
According to Niti Aayog, the Indian real estate sector is expected to continue its upward trajectory and is expected to reach a market size of $1 trillion by 2030 and will account for 13 percent of India’s GDP by 2025.
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