Opportunities in the Indian Infrastructure Industry

As the engines of growth have shifted towards emerging nations, it seems that economic pros-perity has finally reached the shores of the East. The salient question remains whether the Indian infrastructure industry can reap the dividends of a burgeoning economy growing at 7.9% or miss out while the spoils are distributed among other industries? The infrastructure industry in India has traditionally been a major driving force towards the economy’s growth, contributing to 5% of India’s GDP. With the new government deeply committed to a resurgent India, there are many indicators that show infrastructure to be one of the focal areas in India – a fact that creates a tremendous op-portunity for the construction industry. India is estimated to spend Rs. 31 trillion on infrastructure development in the next 5 years. Technology will be at the forefront of this growth because tradi-tional means and a fragmented workforce are not equipped to drive such growth. The Emergent Divergent As technology makes leaps and bounds, the way construction takes place has made a quantum leap. There is a talk of using 3D printers to build houses in many parts of the world. While this technology is yet to be used on a commercial level, the application of innovation in coming up with building solutions in noteworthy. Prefabrication or off-site manufacturing is another innovative and emerging technology that has gained traction in recent years. It involves buildings that are manufactured in sections which can then be transported to a particular location and assembled. These homes are relatively cheaper and save up on construction time. This kind of technology finds relevance when seen in the light of the fact that the government plans to build a home for every Indian by 2022. Such an infrastructure project that is on a grand scale and which needs to be implemented in such a short time would do well to incorporate the above technology. Commercial construction has already embraced prefabrication owing to the value it adds in eve-ry aspect – cheaper, faster and better. Adoption of prefabrication technology by home builders are yet to pick up owing to the lack of awareness and the lack of companies offering such ser-vices in India. KEF Infra is one such company which is set to enable India’s infrastructure ambi-tions, having already completed successful commercial projects in South India. Conclusion The magnitude of growth can be ascertained by the fact that the government itself wishes to in-ject more than Rs. 25 trillion into the infrastructure market in the next 3 years. While no one can predict the future, construction industry trends seem to be heading towards innovations and ac-ceptances of prefabricated homes.