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Construction industry to grow to $120 billion in five years

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Melroy Lopes
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Lightbulb Construction industry to grow to $120 billion in five years - May 28th, 2007

The $70-billion domestic construction enterprise is poised to grow at 15 per cent annually from the current 10 per cent to touch $120 billion by 2012, with the additional manpower requirement proportionally growing to over 9 crore ‘man-years’ in the next five years, according to a new study.

In its paper, industry chamber Assocham has highlighted that, currently, this industry offers job opportunities for skilled and unskilled workforce of about 3 crore only.

Now growing requirements of sectors like transportation, power, urban infrastructure, housing and irrigation will ensure that the industry grows at the projected level. “By 2012, India would absorb over 970 lakh man-years in specialised areas of engineers, technicians, contractors, supporting staff and skilled/unskilled workers,” the chamber noted.

The top drivers of this growth would be infrastructure which will receive $150 billion in investments, roads which will witness an investment of $60 billion and new telecom networks which will receive $50 billion.

source : http://www.mumbaimirror.com/net/mmpa...2735463359be0d
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