Spurred on by the boom in the real estate sector, which accounts for nearly 43 per cent of the construction spend, India’s growing construction industry is attracting a large number of global players.
According to a PwC report prepared for The Big 5 Construct India 2013, the international building and construction show in Mumbai on September 2-4, the real estate sector is forecast to grow at a CAGR of 3.6 per cent during 2012 to 2016 with the total market estimated at Rs.22,800 crore ($380 billion).
The global event is being organised by the Federation of Indian Chambers of Commerce and Industry, Ministry of Urban Development and dmg events, USA, to provide a platform to the large number of international manufacturers keen on entering the Indian construction market.
“Construction in India offers huge potential to those looking to develop and expand their business and The Big 5 Construct India is a perfect place to cultivate new opportunities in the region,” Muhammed Kazi, Project Manager, The Big 5 Construct India, said.
The show has evoked positive response and has received confirmations for 10 international country pavilions including Germany, Italy, Spain, Turkey, UK, Iran, Greece, Taiwan, Korea and China. In addition, leading companies from India, Thailand, Japan, UAE, Oman, Vietnam, Singapore, France and Australia have confirmed their participation.
Emerging technology trends are redefining the Indian construction industry and taking it to the next level globally. Technology is emerging as a catalyst of change as the industry grapples with challenges like escalating project costs and prolonged construction periods. It holds the key to addressing these issues and enables the sector to react to changing market conditions effectively and efficiently. As in other industries, widespread deployment of advanced technology products is helping the construction industry to improve quality, timeliness of project delivery and performance, and address long-term sustainability and environment-related concerns.
The Big 5 Construct India show will feature a wide range of the latest local and international building material and construction products that will include, among others, technologically advanced polyurethane products for waterproofing, flooring and roofing; the super stretch and wrap ultimate multipurpose rescue tape that can be used to fix virtually anything; and seamless sculptural wall surface designs, seamless contemporary resin floorings and decorative resin wall panels.
“We have participated in other editions of The Big 5 in other parts of the world and they all offered us many opportunities to showcase our products and promote our business. This time, too, we plan to exhibit our range, including rebar, wire rod and heavy sections,” said Mohammed Al Afari, AVP, Emirates Steel. “We believe that this event will be good for our business, knowing that it is taking place in a market that is growing every year and poised for exceptional growth.”
A series of free seminars and panel discussions will complement the expo providing the participants with up-to-the-minute information, trends analysis and best practice case studies to improve their decision-making process and encourage investment.