Construction Industry - Economic Disruptions, Growth Prospects, and the Way Forward
Industry stalwarts from the Construction industry – developers, contractors, consultants, manufacturers, service providers, etc. share their views on the challenges that their businesses are facing due to the nation-wide lockdown, the impact of which is being felt across all the connected industries, including the supply chain, labour shortage, and liquidity crunch. They share their optimism for the future revival of the economy and give solutions that could mitigate the problems and bring long-term growth and profitability.
While they are hopeful that government interventions with concessions and stimulus packages etc, will bring some relief to the construction and allied industries, they also believe that the government needs to look at the critical areas for speeding up infrastructure construction, bring accountability, and strengthen project execution to stop cost overruns, delays in completion, and avoid arbitration.
The good news is that MoRTH is keen to adopt advanced technologies and equipment to expedite road construction projects and improve quality, which will drive demand for new and technologically advanced equipment. MoRTH has plans to invest `15 lakh crores in the next two years on roads and highways and NHAI is set to build 30,000 km of roads in the next five years.
On the downside, the OEMs are no longer confident of timely supply of critical components/parts from sources outside the country. However, given the Government’s call for ‘Make in India’ and an ‘Atmanirbhar’ India, they are gearing up to meet high demand in the coming years by localizing components/parts so that the demand-supply imbalance would be minimal in times of any unprecedented crisis in the future. This could lead to making India a global manufacturing hub of high quality products for both domestic consumption and for export to world markets.
Digital transformation of the Construction Industry is also becoming apparent - from planning and designing to construction and selling/marketing. Foreseeing upcoming demand for equipment, forward-looking companies are adding more high-tech features to their products. In fact, use of disruptive technologies is increasing and its benefits can be seen in every department and industry. In fact, adapting to the ‘new normal’ by digitizing construction processes and management seems to be the way forward.
While the construction industry seems to be the key to India’s economic revival, major issues like unavailability of man, material, and machine (3Ms) will assail the industry. This will drive companies to adapt to the new normal by digitizing their construction processes and using technology to better manage the 3Ms. Companies that are quick to adopt technologically advanced construction equipment with the support of the OEMs will get a first-mover advantage by making up for the time lost and completing stalled projects.
In the Real Estate sector, survival is a major issue today for most of the developers and builders. No doubt, the Government has come up with a good relief package and infused some much-needed liquidity and positivity into the market, but the current calamitous situation calls for out-of-the-box thinking, and solutions that would be sustainable for the long-term.
Over and above all this, the need of the hour is a real-time collaboration between developers, contractors, OEMs, rental companies, and financial institutions for the ‘revival’ of projects and, most importantly, for their ‘survival’.
JCB India
Big-ticket infrastructure development projects not only demand the best quality output but also work on tight timelines, thus creating a need for specialized, intelligent, and technologically advanced construction equipment Read More...
KNR Construction Limited
Contractors, manufacturers, rental companies, and financial institutions have to converge to contribute meaningfully for the revival of any project through correct and timely construction processes while improving the value of Read More...
Tata Hitachi
Just before Covid-19 started, we had ventured into the rental business of machines, and today, these machines have been productively deployed at sites. The trio of contractors, OEMs, and financers have been converting the Read More...
Ardent Group
Our rental and manufacturing divisions have been playing a vital role of being the link between the contractors, financers, and institutions for the revival of our projects. Our supply chain is intact and we are producing Read More...
Larsen & Toubro
L&T Construction Machinery has taken a significant step towards ‘Make in India’ mission. Our range of wheel loaders and vibratory compactors are fully designed, developed and manufactured in-house with over 80% localisation Read More...
Shapoorji Pallonji E&C
We are eager and striving hard to bring our operations back on track post the lockdown. Going forward, we will focus on our ongoing projects and continue to engage with the government as well as private sector clients to explore Read More...
Escorts Construction Equipment
Covid-19 has enhanced the role of connecting digitally the entire ecosystem of an equipment. We have already started to integrate and test a newly developed software and hardware and the results are exciting. Now, by using Read More...
SPML Infra Limited
We believe that use of digital technologies help in higher productivity with ease of operations and maintenance. Having recognised the importance of automation and digitization, we have implemented them for quick decision Read More...
Wirtgen Group
The Indian construction equipment industry volumes have doubled since 2015 and most manufacturers have already increased their capacities to meet the peak demand and the anticipated demand, expecting the boom to continue Read More...
Starworth Infrastructure and Construction
Indian Construction Industry need to focus productivity at site. By doing so only cost and timeline can be optimized. The only way to enhance productivity would be to do maximum offline construction namely, precast Read More...
Action Construction Equipment
Equipment funding is a very important aspect and the recent lockdown and subsequent moratoriums have created an array of problems for the NBFCs and the reason why the CE Industry at the current juncture is feeling a constraint Read More...
Louis Berger
We are ready and poised to continue to work on infrastructure projects that are in the pipeline across diverse sectors including transportation and urban infrastructure – planning and design. We have competent and experienced Read More...
CASE India
The announcements made by government have reassured that the infrastructure sector will reinvigorate soon, and we’re confident that the government will continue to take corrective measures to bolster the market situation Read More...
Aparna Constructions & Estates
Aparna Constructions is continuously implementing innovative ways to improve quality and customer experience. Our backward integration gives us an advantage since we have set up in-house building material facilities Read More...
Ammann India
All Ammann equipment are ‘future ready’ and customers can add the requisite features to our plants and machines to suit the new and upcoming technologies which will be adopted by MoRTH. Read More...
Puravankara Limited
We have invested our time in testing technological tools in order to drive our operations and overcome the hurdles that came with the Covid-19 lockdown. We introduced our digital booking platform through which we were able Read More...
Atlas Copco (India)
Atlas Copco’s will continue with its core focus on superior portable air compressor and light tower quality and providing world-class service to its customers to ensure the value addition which is necessary in the current Read More...
Vijay Khetan Group
Construction technology is constantly evolving, allowing for faster completion than in previous years. Adoption of technologies such as aluminium formwork are major steps in this direction. This is a versatile construction Read More...
Trimble India and SAARC Region
Most of the stakeholders are coming around to the view that digital transformation of the construction industry will speed up its revival, and what’s more, the various disruptive technologies have the potential to create Read More...
TACTIVE
Technology will enable better and more efficient management of construction activities post the pandemic. Being a technology company serving the construction industry, we have designed all our modules - tendering Read More...
Armix Machinery
We believe that since global economics and priorities are changing, in the present scenario, only the best high-tech and affordable machines will be in demand. Armix is well-prepared with its team of highly experienced technical Read More...
Parijatha Machinery
Parijatha has always focused on developing environment-friendly products. Our flyash based brick and block making machines are the most successful in the market due to their proven utilization of the maximum percentage of fly ash Read More...
Neptune Industries
We have technical collaborations with European companies through which we can adopt their technology to find indigenous solutions. This way, we are actually selling European quality in India, and at a much affordable cost Read More...
Nova Formworks: Staying Ahead
We introduced plastic formworks in the Indian market in 2011-12 and we will continue to make innovations in this product line. The nature of plastic makes this formwork automatically safe as there are no sharp edges Read More...
NBM&CW July 2020
