Avneesh Sood, Director, Eros Group
In the coming years, development of the Indian construction industry is very crucial, especially when it's trying to make a headway in meeting global standards of construction. Efficient training and updated technology will bring back confidence in infra development.
Challenges
The Indian Infrastructure sector is a key driver for development and enhancement of the Indian economy. It is exceedingly in charge of impelling India's overall development and progress and enjoys extraordinary concentration from the Government for initiating approaches that guarantee time-bound production of world-class infrastructure in the country. The construction industry in India is the second largest contributor to the country's GDP and also one of the biggest employment providers.
Currently, there is a significant opportunity to embrace complex and complicated tasks wherein the contending factors for development majors are cost-effectiveness as well as innovativeness and proficiency. But there are countless challenges that have been limiting the growth prospects of the construction industry in India. Some of the biggest challenges are lack of skilled workforce, non-availability of land within city limits, alleviated cost of materials, need for environmental sustainability, poor productivity, profitability and natural hazards.
Efficiency & Accountability
Many contractors and builders are struggling on the execution front due to the above-mentioned reasons. Many factors are limiting productivity gains in construction. These include the ratio of contracted labour to in-house labour, shortage of skilled labour, contractor hesitancy to embrace technology, poor labour welfare at the workplace, poor health and safety and unavailability of appropriate tools and equipment.
Eros Group has optimized their tasks and is resolved to convey every one of their activities on schedule. They have a well-maintained escrow account for all projects and are complying with RERA norms by registering all their projects. They are likewise taking a shot at resource monetization like their five-star lodgings and shopping centers in level II urban areas, which helped them to make further liquidity.
Artificial Intelligence, Machine Control, IoT
The Government has identified the need for introducing modern technologies to increase the speed and efficiency of developing infrastructure and is actively striving towards stimulating construction activities in the country. In the coming years, development of the Indian construction industry is very crucial, especially when it's trying to make a headway in meeting global standards of construction.
Efficient training and updated technology will become the key answers to the problems and to bring back confidence in infrastructure development. When we look back at this industry's history, we notice that some great advancements have taken place in the recent past. These include AI, Robotics, Cloud and mobile technology or construction software and data ecosystem. Robotics, AI, and the Internet of Things can reduce building costs by up to 20 percent. Engineers can don virtual reality goggles and send mini-robots into buildings under construction. AI can also be used to monitor problems and even offer solutions.
Order Book
We recently launched Sampoornam I in Greater Noida, for which we are investing ₹125 crore. This is our first residential project in Noida and is RERA registered.
The Indian Infrastructure sector is a key driver for development and enhancement of the Indian economy. It is exceedingly in charge of impelling India's overall development and progress and enjoys extraordinary concentration from the Government for initiating approaches that guarantee time-bound production of world-class infrastructure in the country. The construction industry in India is the second largest contributor to the country's GDP and also one of the biggest employment providers.
Currently, there is a significant opportunity to embrace complex and complicated tasks wherein the contending factors for development majors are cost-effectiveness as well as innovativeness and proficiency. But there are countless challenges that have been limiting the growth prospects of the construction industry in India. Some of the biggest challenges are lack of skilled workforce, non-availability of land within city limits, alleviated cost of materials, need for environmental sustainability, poor productivity, profitability and natural hazards.
Efficiency & Accountability
Many contractors and builders are struggling on the execution front due to the above-mentioned reasons. Many factors are limiting productivity gains in construction. These include the ratio of contracted labour to in-house labour, shortage of skilled labour, contractor hesitancy to embrace technology, poor labour welfare at the workplace, poor health and safety and unavailability of appropriate tools and equipment.
Eros Group has optimized their tasks and is resolved to convey every one of their activities on schedule. They have a well-maintained escrow account for all projects and are complying with RERA norms by registering all their projects. They are likewise taking a shot at resource monetization like their five-star lodgings and shopping centers in level II urban areas, which helped them to make further liquidity.
Artificial Intelligence, Machine Control, IoT
The Government has identified the need for introducing modern technologies to increase the speed and efficiency of developing infrastructure and is actively striving towards stimulating construction activities in the country. In the coming years, development of the Indian construction industry is very crucial, especially when it's trying to make a headway in meeting global standards of construction.
Efficient training and updated technology will become the key answers to the problems and to bring back confidence in infrastructure development. When we look back at this industry's history, we notice that some great advancements have taken place in the recent past. These include AI, Robotics, Cloud and mobile technology or construction software and data ecosystem. Robotics, AI, and the Internet of Things can reduce building costs by up to 20 percent. Engineers can don virtual reality goggles and send mini-robots into buildings under construction. AI can also be used to monitor problems and even offer solutions.
Order Book
We recently launched Sampoornam I in Greater Noida, for which we are investing ₹125 crore. This is our first residential project in Noida and is RERA registered.
NBM&CW July 2019
