Construction sector output seen at Rs 60,508 billion by 2026, says trade show

Mumbai: Government investments in projects like the Sagarmala Programme, Bharatmala Pariyojana, Gati Shakti Master Plan, and development of 21 greenfield airports has made the market highly competitive and thrown up opportunities for all stakeholders. This was said by Yogesh Mudras, Managing Director, Informa Markets, at the eighth edition of World of Concrete India trade show.

Hundreds of exhibitors showcased everything from cement to pumps, precast manufacturing items, technologies, admixtures, testing and repair.

Among those present at the trade show were S V R Srinivas, Additional Chief Secretary and Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority.

Footfalls were more than 7,000, with over 150 exhibitors, and more than 50 speakers, at this year’s event which underlined the need for innovation and sustainability.

Key exhibitors were UltraTech, Schwing Stetter, Jet Formworks, Mcon Rasayan, ESS EMM Chemicals, HROC, Asian Paints, Vyara Tiles, VT Corp, and Infinity Woodcraft among 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 real estate market is seen contributing 13% of GDP by 2025 and will increase the market size to $1 trillion by 2030, according to Niti Aayog. By 2026, it is anticipated that the output of the construction sector will be Rs 60,508 billion. Modernised tech-driven urban planning is projected to improve quality of life through programmes like the groundbreaking Smart City Mission. In order to increase production and stay ahead of competition, the construction industry is also implementing digital technology solutions.

Published on: Friday, October 14, 2022, 06:09 PM IST