Role of building infrastructure in Indian economy
The real estate sector is globally recognized and is a primary one and in India it is the second largest employment generator only after agriculture. The building industry is set to grow at 30 % in the next decade. The construction industry is ranked 14th among the 14 major sectors in terms of direct, indirect and the induced effects in various sectors of Indian economy. The boom did decrease in the post 2008 period, but has picked up recently due to the new boost in the sector. The share of the government as well as the private sector has increased and the boom is here to stay. It is predicted that India will be the third largest construction market by 2025 as there will be around 11.5 million new homes and buildings every year and a $ 1 trillion market. The government has focused its work on the north-east and even the foreign players see a good option in these states. The ‘Make in India’ campaign has also made the government policies easier and faster results. It has also influenced the manufacturing sector to a large extent and that in turn has worked well for the construction sector as various investors have now shown keen interest.
The renewed impetus of the government on the construction equipment and infrastructure has been very positive and poised for growth. Today there is an investment of Rs. 70,000 crore in 2015-16 and there are various projects in the pipeline with the investments from foreign and domestic sectors. Announcements have been made by the government that the US companies will invest $ 42 billion in the next three years and Japan will invest $ 35 billion in various sectors like smart cities and railway.
Kompass B2B portal online for business
The online world is getting more and more popular with business owners and with the inclusion of Kompass portal, the business owners are finding it easy to connect with customers and manufacturing or even agents.
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