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He further said, Construction sector has an important place in the Indian economy. It is the second largest contributor to economic activity accounting for about 8 percent of GDP. It accounts for the second highest inflow of FDI after the service sector. It generates the highest level of direct and indirect jobs employing about 40 million people and creating 2.7 new jobs indirectly for every Rs 1.00 lakh invested. The sector has major forward (infrastructure, real estate, manufacturing) and backward (steel, cement etc) linkages, implying a high multiplier effect on economic growth, almost two times.

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

"We have planned to build 50 million houses by 2022. In addition, we are developing smart cities and mega industrial corridors. We are also modernising our railway systems including signals, engines and railway stations.  We are planning metro rail in 50 cities and high speed trains in various corridors".

Similarly, we have planned to construct on an average 15 km of National Highways every day. We are putting up new ports and modernising the old ones through and ambitious plan called ‘Sagarmala'.

The focus is on upgrading the existing airports and putting up regional airport to enhance connectivity to places of economic and tourist importance.

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