The construction industry of India is an important indicator of the development as it creates investment opportunities across various related sectors. With a share of around 8.2%, the construction industry has contributed an estimated ₹670,778 crores ( 131 billion) to the national GDP at factor cost in 2011–12. The industry is fragmented, with a handful of major companies involved in the construction activities across all segments; medium-sized companies specializing in niche activities; and small and medium contractors who work on the subcontractor basis and carry out the work in the field. In 2011, there were slightly over 500 construction equipment manufacturing companies in all of India. The sector is

labor-intensive Labor intensity is the relative proportion of labor (compared to capital) used in any given process. Its inverse is capital intensity. Labor intensity has been declining since the onset of the Industrial Revolution in the late 1700s, while its inv ...

and, including

indirect jobs Investments into an industry or project can produce temporary and long-term employment. The resulting jobs are typically categorized as being one of three types. A direct job is employment created to fulfill the emand for a product or service. An ...

, provides employment to more than 49.5 million people. The construction sector is visualized to play a powerful role in economic growth, in addition to producing structures that adds to productivity and quality of life. economic development is a term that economics politician and other have used frequently in the 20th century, modernization westernization and specially industrialisation are other terms people have used while discussing economic development. economic development has a direct relationship with the environment. government undertaking to meet go abroad economic objectives such as price stability, high employment and

sustainable growth Sustainable development is an organizing principle for meeting human development goals while also sustaining the ability of natural systems to provide the natural resources and ecosystem services on which the economy and society depend. The desi ...

, such efforts include financial and economic policies, regulations of financial industry trade and tax policies.

Future challenges

India's population is expected to increase to 1.7 billion by 2050, and the results show that this will put a lot of pressure on people. India is facing a problem of inefficiency, which may pose a major problem, the future of the construction industry and the development of its infrastructure. However, India's efficiency is very serious, which may be due to the underdeveloped labor force and the time and cost overruns faced by each project.

References

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