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India's contribution to global construction industry
India's contribution to global construction industry
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Make in India is an initial of the Government of India, to encourage companies to manufacture their product in India. Make in India Scheme was launched by our Prime Minister Narendra Modi on Sep 25, 2014. The construction companies of India is a important sign of the development of India and it also creates investment opportunities across various fields. The concept of Make in India focuses on various fields in the country and construction is one of them. The following is the summary of the five year plan: SUMMARY OF THE MAKE IN INDIA INITIATIVE IN INFRASTRUCTURE SECTOR: As a part of 12th five year plan (2012-2017), expected investment of 1000 billion $ is to be occure in this field for the development of infrastructure in both urban and …show more content…
In the past 30 years the share of output and employment from manufacture in India had hardly changed. When comparing share of output with aggregate services it has rose dramatically over the last 30 years. From about 35% to more than 50% of the GDP. Nearly half of the indian labour force over the period of 2011-30 will be in the age group of 30-49. Around 50% of the demand comes from infrastructure sector for the construction activities in India and rest comes from the industrial activities, commercial development etc. Total valuation of construction industry is over USD 126 Billion. Indian cities mostly contributed to Indian GDP. As per the survey mid term appraisal in 2012 of the urban sector was 62% - 63% of the GDP in the year 2009 - 2010. Which was further projected to increase by 70% - 75% in the year 2030. In 2001, around 286 Million people were living in urban areas across whole India. It turned to be the second largest urban population country in the world. According to the Indian Census - 2011, the urban population had increased to 377 Million, therefore there is a growth of around 32%. As per our estimates, by the year 2030 around 590 Million people will live in Indian
Stadium Remodeling project is the best choice. I came to this conclusion based on many different factors.
The construction industry plays an important role in competitiveness and prosperity of the economy in terms of its significantly contributing to shelter, infrastructure and employment (Anaman and Osei-Amponsah, 2007). A number of researchers have investigated on the vital role of the construction sector to the overall economic growth. In Rhodes’ paper who stated the construction industry in the UK contributed £83.0 billion in economic output in 2012, which accounts for 6% of the total. Also, workforce jobs in the construction industry in UK were 2.03 million in 2012 and 2.12 million in 2013, account 6.4% and 6.5% in total respectively (C. Rhodes, 2013). Oladinrin indicated the significance of construction linkage with the aggregate economy in Nigeria by studying on construction output and Gross Domestic Project (Oladinrin and etc., 2012). A recent report of U.S. Bureau of Economic Analysis showed that the GDP value added of construction industry was $652,723 million in 2014, 3.7% of total GDP (http://www.bea.gov/industry/gdpbyind_data.htm). Besides, a report of U.S. Bureau of Labor Statistics stated the employment by construction industry sector take 4.7%, 3.9% and 4.5% in the year of 2002, 2012 and 2022 respectively (http://www.bls.gov/emp/ep_table_201.htm). The construction industry has been playing an influential role on domestic GDP in China (Zhou and Liu, 2007). A report of National Bureau of Statistics of China
Job creation is a key factor for economic development. Toronto alone receives 100 000 immigrants each year, most of them in need of work. With Ontario’s investment in infrastructure, thousands of jobs would be created, not only in the construction industry but also within every industry indirectly affected by the construction. If we look back to 2008 during the recession, Ontario actually spent more on infrastructure knowing the job creation would significantly boost our economy. The Conference Board of Canada released a report in 2010 titled “The Economic Impact of Public Infrastructure in Ontario” which stated if we had not invested in infrastructure during the global economic crisis, Ontario alone would have lost 70 000 more jobs in 2009. This goes to show the truly immense impact our investment in infrastructure can have on Ontario’s economy. Basic Infrastructure not only helps a city or region in a functional way, it can also have an effect on the appearance of an area. If a city is physically attractive, businesses and labourers will be more inclined to migrate to that specific city rather than another, which in turn stimulates economic growth. This effect creates somewhat of a competitive nature between cities and businesses. The attractiveness of an area, in recent years, has had a huge effect on where people live and bring their business, especially in the knowledge-based economy we live in today. Cities throughout Ontario should want to attract investment, and developing infrastructure will only help them achieve
A general situation of urbanization trend in developing countries and developed countries is increasing. In 18th Century only 3% of the world total population lived in urban areas but as projected in 2000 this number will increase at above 50% (UN as cited in Elliot, 1999, p. 144). According to UN (as cited in Elliot, 1999, p.144), it is figured that the total urban population in developing countries has increased from approximately 400 millions people in 1950 to approximately 2000 millions people in 2000. At the same time, total urban population in developed countries is double...
Today, India is the second most populous country in the world and in 2050 this country – continent should overtake the giant Chinese and to be the largest society in the world with more than 1,6 billion of people. In India, more than 15 million marriages take place each year.
[6] Kripalani, Majeet & Egnardio, Pete. The Rise Of India. Business Week Online. December 8, 2003. http://www.businessweek.com/magazine/content/03_49/b3861001_mz001.htm
projects. The studies also deal with the issue of cost escalation and way it is currently being handled in building construction. Cost escalation has impact on the quality, project schedule and cause hindrance in project completion. Cost escalation is major provision in the cost estimation process which yield values for increase in the cost of equipment, material, labor, etc...Due to continuous price changes over the time. Most significant cost escalation factors are raw material input price, demand and supply, power tax, transportation cost, inflation, taxes, exchange rates and government policy. The acceleration in price of materials has a direct effect on the delay in project completion, quality and disputes.
engines, axels and the like - sits not in Detroit, Tokyo or Stuttgart, but in the
There are several limitations in aviation infrastructure in India for instance parking bays, gates to board passengers, landing slots etc are in short supply. This often leads to massive delays, cancellation and major losses in revenue for many LCCs. For upgraded infrastructure facilities, India’s civil aviation minister Praful Patel said on 15 February 2006 that Indian government defer decision on privatization of International Airport in Delhi and Mumbai. The government aims to set up joint venture to operate these airports and offered 74 per cent stakes. Foreign direct investment (FDI) can hold up to 49 per cent in this transaction, while 25 per cent must be held by private Indian companies. Remaining 26 per cent to be held by Airport Authority of India (AAI) and other government PSUs.
The processed for installation the structure of industrialised building system (IBS) requires high initial investment capital for pre-casters to purchase new machinery, mould, importing foreign technology and wages of skilled worker.
The construction industry is fundamental to economic and social development of the country. The UK construction industry has an annual turnover of over £ 100 billions and represents almost 10 % of the country’s GDP. The industry employs around two million people in more than 300,000 different companies. Improving transport infrastructure and modern efficient buildings play an important role in lifting the productivity of businesses in the UK. (ONS, 2011) At the same time improvements in schools and hospitals housings social, as well as providing high quality public transport, it all depends on the construction industry delivering successful projects. In a world in which environmental issues are increasingly paramount importance, an innovative construction sector holds the key to providing solutions that will meet the challenge of climate change and the efficient use of resources of the planet. As the investment industry driven, subject to the strictures of economic recovery and recession.
Indian textile and clothing industry is one of the important sectors in terms of foreign exchange. India is among the world’s top producers of yarn and fabrics. The Textile industry is highly dependent on cotton.it is principal raw material for textile industry. India ranks second in production among all cotton producing countries in the world, next to china. The textile and apparel industry can broadly divide into two segments-yarn and fabrics. India accounts 14% world’s production of textile yarn and fabrics.
The construction industry is the leader among all industries.The construction industry is responsible for all the man made things arounds us. It is an essential contributor towards the process of development. There are two major categories of construction projects in the industry, building and civil engineering. Building involves projects such as building houses, schools, stores, factories, railroad stations and so on. Civil engineering involves other built structures such as roads, bridges, dams, railways and much more. With all the good things that the construction industry provides for humans, there are problems that are affecting the industries future. The construction industry faces workforce challenges that could can cause them major problems in the future
The theoretical foundations of the effect of infrastructure on growth and more generally on development outcomes are mostly found in Growth theory (Aghion and Howitt, 1998; Agenor, 2004; Agneor, 2010; Agenor and Moreno-Dodson, 2006; Barrow and Sala-i-Martin, 2004 and Straub, 2007). Economic growth is the increase in the amount of the goods and services produced by an economy over time (Sullivan, Arthur; Steven and Sheffrin, 2003). It is conveniently measured as the percentage rate of increase in real Gross Domestic Product (GDP). Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to net out the effect of inflation on the price of the goods and services produced.
Dalai & Das (2013) highlighted that the productive and heterogeneous rural arts are one of the relevant assets to bring considerable and favorable prosperity by providing employment to millions of rural people. India Brand Equity Foundation mentioned that during April-September 2016 handicrafts export from India is US$ 1.9 billion (Indian Handicrafts Industry & Exports, 2016). Now it is expected to grow by 10% to US$ 3.5 billion in FY2016-17