Economical Growth of India and Construction Industry

It was reported that construction industry in India has contributed a share of about 11% with more than 7563 billion to the national GDP in the year 2014-2015. Not only has the construction industry creates more than 50 million job opportunities but also creates investment opportunities across different allied sectors. In the first five-year plan, the National Industrial Development Corporation (NIDC), which is professional consultancy company, was set up in the year 1954 for the purpose of promoting construction industry in India. Indian Railways Construction Limited (IRCON) and other allied architectural, design engineering & construction companies were set up after that. National Buildings Construction Corporation (NBCC), Hindustan Construction Company (HCC), and Rail India Transportation and Engineering Services (RITES) are few of the construction industry set up, for effective growth of construction sector in India.

It was reported that about 400 to 500 companies are engaged in manufacturing construction equipment in the year 2011. The construction industry in India is fragmented and labor-intensive industry, so most of the companies are involved in all segments. Some medium-scale construction companies is involved in niche activities. Small and medium contractors work on the contract basis and carry out the work in the field. Indirect and direct employments are effectively generated through construction industry in India. For more than 50 years, the construction in India has systematically accounted for more than 40% development investment. It was reported that about 21% people in India directly or indirectly depend on construction industry for their life hood. Construction industry contributes about 74% to the gross capital formation and about 7 percentages to the national’ GDP. It was also reported that about 250 firms in the corporate sectors work in the construction industry in India. Apart from this, it was reported that more than 100,000 class A contractors work in the construction industry that works with different government construction bodies. The government of India plans to generate about 15, 500 billion US dollar in the 11th five-year plan.  For achieving the required target in the 11th five-year plan, it was reported that better construction management was required. This optimizes the resources and effectively maximizes the productivity.

Cement, sand, wall putty, and iron rods are some of essential raw materials that are used by the professional contractors working in the construction industry, for the construction of various households, commercial and industrial establishments. Bulk demands of cement are effectively and systematically met by the best Cement Wholesaler in Delhi. Apart from this, the contractors can easy purchase different types of wall putty from reliable Wall Putty Distributors in Delhi. The standardized packaging of wall putty ensures safe transportation at the contractors’ end.