Sector News

Sector News

The Indian engineering and construction sector is witnessing a steady wave of upward growth. This is both an opportunity as well as a responsibility for the stakeholders of the sector to carry forward the Indian growth story.

Some of the drivers for development in the country today include –

  • India has an estimated urban housing shortage of 18.8 Million dwelling units
  • The housing shortage in rural India as of 2012 is estimated at 47.4 Million units
  • There is need for regeneration of urban areas in existing cities and the creation of new, inclusive smart cities to meet the demands of growing population and rising migration from rural areas to urban areas
  • Future cities of India will yearn smart real estate and urban infrastructure
  • To provide quality urban services on a sustainable basis in Indian cities
  • ULBs to enter into partnership agreements with foreign players, either through joint ventures, private sector partners or through other models
  • Develop 500 cities, which include cities with a population of more than 100,000 and cities of religious and tourist importance
  • Support and encouragement to harness private capital and expertise through PPPs, to bolster their infrastructure and services over the next 10 years
  • Swachh Bharat Mission
  • Heritage City Development and Augmentation Yojana (HRIDAY)
  • Delhi-Mumbai Industrial Corridor (DMIC)