Mu. Moahan, President, BAI
How do you see business reviving for the Builder & Contractor fraternity now that construction activities are beginning to resume?
India's construction industry is an important growth driver of India’s economy with around 8% contribution to India’s GDP, making it one of the integral industries of India. The government’s construction projects are giving a huge thrust to the industry. The major construction activities accounting for the industry’s growth are power generation projects, highway construction, railway expansion, and export-import cargo. Around 21% of the contribution is from cargo, 9.8% from highway construction and expansion, and 6.6% from power generation. There are government initiatives such as making 100 smart cities, world-class highways, shipping infrastructure, housing and urban development, which have attracted huge investments through FDI, private players, and government budgets.
Various factors such as the current infrastructure which is inadequate to sustain the urban population, the government’s new urban development mission and the partnership agreements between urban local bodies and foreign players are expected to further boost India’s construction industry. Also, 100% FDI in construction development projects (housing, townships, hospitals, hotels, education institutes, etc) and developing industrial parks are allowed through automatic route.
Hence, even though COVID-19 has considerably slowed down the Indian building and contracting industry, there will no stopping the industry once things start becoming normal.
In the wake of Covid-19 disruptions, there are discussions going on at various platforms that contractors and builders should adopt technologies that will help in better management of the 3Ms (man, material and machine) and complete projects on time. Please share your views on this.
The Indian building and contracting industry has undergone revolutionizing changes in the last decade by embracing technological advancements. New-age construction methods have become highly necessary to ensure efficiency, faster delivery time, and cost effectiveness.
Covid-19 has caused a severe health and economic crisis that has changed the way we live, work, do business, etc. which is being touted as the ‘new normal’. In these challenging times, contractors and builders have to take note of emerging technologies, which have played a significant role in their diverse forms, and provided solutions for addressing and mitigating the current impact of the pandemic across the world.
How important is the tradeshow 'bauma CONEXPO INDIA' for builders & contractors, and what are your views on the new dates of the show?
There cannot and should not be any iota of doubt whether 'bauma CONEXPO INDIA' is important or not for Indian builders and contractors. It is very important, in fact, because participants are expected to display their latest machinery, methodology, services, etc, which will help the players of Indian building and contracting industry adopt technologies that will help in better management of the 3Ms (man, material and machine) and complete their projects on time.
Rescheduling bauma CONEXPO INDIA to Feb 2021 will enable exhibitors and visitors from across the country to participate in the trade fair without any complications. The postponement is even more welcome as the BAI National Members Meet can be planned alongside with bauma CONEXPO INDIA 2021, with maximum pan India participation.
