India emerge as worlds 3rd largest construction market by 2020
Mumbai,12/June/2013 (ITNN)>>>>The construction industry is a major contributor to the country’s GDP (8% in FY12) and one of the largest employment generators currently employing around 33 million people. While the Indian economy grew by 5% in FY13 as compared to 6.2% in FY12, the construction industry grew by 5.9% in FY13 against 5.6% in FY12. According to a PwC report prepared for the organizers of The Big 5 Construct India, India is expected to emerge as the world’s 3rd largest construction market by 2020.
In the last decade, “the country has witnessed a tremendous housing boom and over the span of five years, from 2012 to 2016, the real estate sector is expected to account for 43% of the construction spend in India. This segment is forecast to achieve a CAGR of 13.6% during this period. The PwC report estimates that the market for real estate construction segment in India is likely to aggregate to approximately US$ 380 billion over the five year period, 2012 to 2016”, stated Dushyant Singh, Associate Director - Strategy from PwC.
Leveraging this unprecedented growth and opportunities for suppliers of construction products offered by the Indian market, Federation of Indian Chambers of Commerce and Industry (FICCI), Ministry of Urban Development, Government of India and dmg events are jointly organizing The Big 5 Construct India 2013, an international building and construction show to be held at the Bombay Exhibition Centre in Mumbai from 2nd to 4th September 2013. Andy White, Group Event Director, dmg events said, “Thanks to the wonderful support from FICCI and the Ministry of Urban Development, Government of India, the first Big 5 Construct India show in Mumbai promises to be a huge success”. The Big 5 is the largest event in the building and construction industry in the Middle East, South East and Central Asia which last year attracted over 60,000 audited buyers of construction products and is now launching in India.
According to Srikanth Srinivasan, Associate President – Procurement, Puravankara Projects Ltd, “The Big 5 is a “must visit” event for any professional from the Construction industry and gives valuable insight into the new developments and trends in the Construction industry. It is also a great platform for Sellers and Buyers to meet and explore opportunities for doing Business. I have attended the Big 5 in Dubai last year and would definitely attend the Big 5 in Mumbai in September this year and would strongly recommend my colleagues and peers from the industry to do the same”.
The exhibition will showcase the latest construction technologies from around the world as well as local and international construction products from heavy machinery to fit-out materials, giving exhibitors the opportunity to promote their products and meet face to face with buyers from the largest projects in India.
The winning combination of The Big 5 brand’s reputation, industry-wide database opportunities and FICCI’s commercial know-how expertise will come together for three days of business and networking as The Big 5 Construct India reaches out to the market by opening a highly organised and professional gateway through which global suppliers will be able to showcase their range of products to buyers from across the country.
A series of free seminars, panel discussions and live interactive demonstrations will complement the show floor activity, providing participants with up-to-the-minute information, trends analysis and best practice case studies to improve the decision making process and encourage investment.