‘Make in India’ has been in the limelight and has been the hot topic since several years. Many people from the construction industry have spoken about this topic in detail and have shared their views in various seminars/exhibitions.
The ‘Make in India’ program was initiated by our Honourable Prime Minister of India Mr. Narendra Modi in 2014. The program was launched to show the world that India is the hub for manufacturing sector in the current global economy. The reason for taking this initiative is augmenting the overall ranking of Indian economy and enhancing the growth rate of India’s products. There are many sectors that come under this program, and construction is one of them.
The construction sector in India employs more than 35 million people. This program, with the nest and most developed infrastructure, can be really effective for the ‘Smart City’ initiative project for 99 cities of India with an investment of about US$ 31.7 billion; this would help people have a better and comfortable lifestyle. Apart from this project, the government’s flagship scheme PMAY (Pradhan Mantri Awas Yojna) launched in June 2015, which guarantees 50 million homes for all by 2022, is also a contributor to this program. These two major projects can contribute a lot to the ‘Make in India’ program, and the construction industry needs to gear up for the same.
Construction sector in India contributes to 8% of the GDP of India and is considered as the leading business in the present time, as it creates investment opportunities across various related sectors and contributes to employment at a large scale. There are many construction companies that are contributing their expertise/technology in making ‘Smart City’ project and ‘PMAY’ successful in various parts of the country.
The construction Industry in India consists of the real estate as well as the urban development segment. The industry in terms of value, is expected to record a CAGR of 15.7% to reach US$738.5 billion by 2022.
This sector is considered as the 2nd largest employer and contributor to the overall economy and accounts for the 2 highest inflow of FDI. Being one of the leading areas of business, financiers prefer to invest over the next 20 years. The overwhelming demand for average to high-class real estate projects and infrastructure projects is one of the reasons for the growth of this sector. To promote the ‘Make in India’ programme successful, there has been support from the Government, and investors are viewing this programme with a long-term perspective, to earn a good amount of profit.
They can easily get the support of the foreign investors as well as partners, and fulfil the dream of our Prime Minister’s initiative of ‘Make in India’ and achieve a great ranking in the global market.
About the Author
Debashish Roy, Head of Vollert India
He successfully started Vollert Anlagenbau GmbH in India as a 100% subsidiary in the year 2011. He has been instrumental in making the organisation a profit centre which resulted in setting up its own factory for making precast moulds starting 2017.
Vollert India Pvt Ltd. based in New Delhi has been providing customer service in India. New production facilities for precast concrete components for Sobha, Teemage Precast and Precast India have been established with the system technology of Vollert and have a sustainable influence on the construction industry in India today.
With the investment into a new production and administration facility in Sikandrabad, the German specialist showed its long-term commitment for India in 2016. Besides mould and tilting tables, column and beam moulds as well as special moulds are produced at the headquarters in Sikandrabad.