Published in EPC World – By Kalyan Vaidyanathan on January 16, 2023
Along with China and the US, India will contribute heavily to the global construction industry’s estimated $15.5 trillion valuation by 2030. And given the importance of the sector in driving the nation’s growth, there is strong backing from the Indian Central Government, encouraging steps to drive improvements in the sector.
But for the sector to flourish, it must first look inwards to rectify its weaknesses. At the top of the list is the inability to complete projects on time and within budget. Several studies, including reports by KPMG and position papers from the McKinsey Global Institute, highlight that the construction sector in India must prioritize these issues to boost productivity and cater to the industry’s demands.