The Indian economy is estimated to have grown by 9% in FY08 as compared to 9.6% in FY07, as per recent data released by Central Statistical Organisation. The construction sector grew by 9.8% at constant prices.
The Indian construction industry has been playing a vital role in overall economic development, as its contribution to GDP at current market prices has gone up from 5.3% in FY02 to around 7.8% during FY08. In fact, during FY02-FY08, the sector grew at CAGR of 20.3%.
The construction industry is an integral part of the infrastructure sector and comprises commercial, residential, roadways, ports, airports, SEZ etc. In 2005, the sector generated around 31 million jobs, out of which, the organised sector generated 1.2 million jobs, while the unorganised sector generated the rest. Going forward, taking cue from the Government of India’s ambitious projects lined up for the Eleventh Plan period, the demand for construction is expected to grow by at least 8-9%, and 2.5 million employment opportunities per annum are expected to be generated.
As the industry is growing, Rigveda is also ready with its team to partner the communication requirement of the industry. We have a team of experience people from infrastructure background who understands the industry and its communication requirement to qualify each project.
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