Industry Profile Of Construction Industry Essay
Construction industry plays a key role in the growth of economy and it is the indicator of the development. It creates investment opportunities in various related sectors. This sector contribute an estimation of ₹6710 billion to GDP in 2011-2012 around 9% in GDP. There are nearly 500 Construction equipment manufacturing companies in India, this sector is Labor Intensive and including indirect jobs it provides employment nearly 35 million people. This industry is the second largest employment generator after the agriculture.
There are three segments in the construction industry like real estate which includes residential and commercial construction. Infrastructure building which includes roadways , dams and railways. industrial construction that consists of oil and gas refineries, pipelines etc.
This sector affects number of associated industries such as steel,cement,paints,bricks,granite,marbles,playwood,technology,skill enhancement etc. currently quite slow the prolonged real estate market is going down has resulted in a lot of not sold housing projects across India.
Industry facing severe shortage of skilled workers and many areas of the country shortage of sand, raw materials and political disturbances are acting as growth deterrents. The smart cities project the Government’s housing for all 2022 will plays a crucial role in the industry. Township housing will become major driven for the real estate industry in the immediate future.
In the real…