Construction biz to be USD 5 billion by 2020

The ninth edition of the trade fair is anticipated to put India’s construction equipment industry, which is expected to grow from $3 billion in 2016 to $5 billion in 2020 in value terms, on the global map. 

GV Sakthi Kumar, Member of Steering Committee, ‘Excon-2017’, and MD, Schwing Stetter Sales and Service Pvt Ltd, told DTNEXT that though GDP of the country had seen a fall, the construction and infrastructure sector had witnessed a growth of 26 per cent. 

Unlike the construction activity in North American and European countries, where things were not moving fast, in India, it is still a brisk business. This hectic pace of construction activity had attracted the attention of investors towards India. Also, the Centre had allotted huge sum of money for infrastructure which had given impetus to the construction sector. 

Touted as South Asia’s largest construction equipment and construction technology trade fair, it is aimed to attract over 1,000 exhibitors including 300 global companies. Largely dependent on migrant workers, high labour cost has esclated construction costs. Automation helps to finish work ahead of schedule and pull down the cost, said Kumar.