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India’s construction output expected to reach INR 60,508.9 billion by 2026

India’s construction output expected to reach INR 60508.9 billion by 2026

Mumbai (Maharashtra) [India]: The 8th edition of World of Concrete India by Informa Markets in India commenced at the Bombay Exhibition Centre, Mumbai. The show provided a unique opportunity for all the stakeholders to discuss every aspect of the concrete, construction, and Infrastructure domain, including technological developments and emerging trends in this sector.

World of Concrete India is one of the leading trade fairs in the country, dedicated to concrete, where hundreds of exhibitors participate to showcase everything from cement to pumps, precast manufacturing products, technology, admixtures, testing and repair, and much more. The grand inaugural of the show was marked by the presence of key dignitaries such as Mr  S V R Srinivas,  IAS, Additional Chief Secretary and Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority  (MMRDA), Mr Ulhas V Mahale, Dy Municipal Commissioner (Infrastructure)  Brihanmumbai Municipal Corporation, Mr Toshihiro Kaneko, Deputy Consul General, Japanese Consulate, Mr Amit Bansal, Partner, Deloitte Touche Tohmatsu India LLP, Mr Ish Anand,  CEO & Country Manager India, Global Wealth Group and Mr. Yogesh Mudras, Managing Director, Informa Markets in India amongst an august gathering.

The show highlighted that innovation and sustainability are the need of the hour, and with its enhanced features, this year’s edition saw participation from over 7,000 visitors, more than 150 exhibitors, and over 50 speakers. Key exhibitors included UltraTech, Schwing Stetter, Asian Paints, Jet Formworks, Mcon Rasayan, ESS EMM Chemicals, HROC, Vyara Tiles, VT Corp, Infinity Woodcraft & many more among many others. World of Concrete India 2022 is primarily supported by the Builders Association of India, the Water Proofing Association of India, and the Gujarat Contractors Association.

Addressing the opportunities in this sector, Mr Yogesh Mudras, Managing Director, Informa Markets in India said, “The concrete, construction and infrastructure industry is highly responsible for propelling India’s overall development and enjoys intense focus from the government for initiating policies that would ensure the creation of world-class infrastructure. Increasing government investments in projects like the Sagarmala Program, Bharatmala Pariyojana, Gati Shakti Master Plan, development of 21 Green Field airports in the country etc., has made the Indian market highly competitive and holds opportunities not only for big but also for small and medium players. Amidst the pressing environmental challenges, especially regarding the cost of energy and increased overcapacity, World of Concrete India 2022 has presented technologies and solutions by bringing together the leading thought leaders, policymakers, and innovators in this space.”

S.V.R. Srinivas, IAS, Additional Chief Secretary & Metropolitan Commissioner (MMRDA) said, “The World of Concrete by Informa Markets in India, is the first major concrete show after the pandemic that had run riot all over the world. This is a major event where different technologies, participants and exhibitors gather and exhibit their products which are sustainable and emphasize on quality, speed, and safety. The technologies on display will go towards contribution for the development of Mumbai and eventually the State of Maharashtra.”

Ulhas V Mahale, Deputy Municipal Commissioner (Infrastructure) said, “Infrastructure development is the growth engine towards development of the city and so this year we have committed approximately Rs. 11 thousand crores on infrastructure. Mega-projects like the Sea-Link will begin at Nariman Point and extend right up to Mira-Bhayander. This year we have also floated a tender to concretize close to 400 kms of roads in Mumbai and by the year 2024 we intend to make Mumbai pothole free so that Mumbaikars get a great ride. I am happy to note that the World of Concrete show will showcase technologies that will be critical for the overall infrastructure development of the city.

Toshihiro Kaneko, Deputy Consul General, Japanese Consulate said, “The Japanese Government has already been supporting with its technology inputs for the high-speed railway, Metro bridge and the Mumbai Harbour projects. Japanese take pride in quality and are working closely with India in the technology transfer. During the Prime Minister’s visit, Japan made a commitment of $3 Trillion in the next 5 years towards infrastructure development. India has a bright future and Japanese companies would like to participate in this development and growth within India. We are happy to participate at the World of Concrete show to underline our commitment towards development in India”.

Amit Bansal, Partner, Deloitte India said, “At the outset let me acknowledge the fact that this is a great event after a global disruption. Events like these are extremely important to create awareness about new construction techniques, new machinery, new equipment, and once we are all aware of such new technology it will lead to usage. The scale and speed at which some of these new techniques should be adopted need to increase significantly. The volume of construction is also going to increase and unless we adopt these new techniques and methods, we will not be able to deliver. While we have the potential, we must ensure that we tap into this potential and ensure that we do not let it go to waste”.

According to Niti Aayog, the Indian real estate sector is expected to continue its upward trajectory and is expected to reach a market size of $1 Trillion by 2030 and will account for 13% of India’s GDP by 2025. The construction output in the country is also expected to reach INR 60,508.9 billion by 2026. Schemes such as the revolutionary Smart City Mission are expected to improve the quality of life through modernized tech driven urban planning. Therefore, the construction industry is also adopting digital technology solutions to boost productivity and remain ahead of the competition.

World of Concrete India is set to play an important role as it not only provides opportunity to engage and connect with practitioners but also provide the attendees with knowledge of best practices and problem-solving strategies through collaboration and educational seminar sessions.

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