At 8 per cent in FY12, the construction industry is a major contributor to India’s GDP and one of the largest employment generators, currently employing around 33 million people. While the Indian economy grew by 5 per cent in FY13 compared to 6.2 per cent in FY12, the construction industry grew by 5.9 per cent in FY13 against 5.6 per cent in FY12.
According to a PwC report prepared for The Big 5 Construct India to be held in Mumbai next week, India is expected to emerge as the world’s third 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 per cent of the construction spend in India. This segment is forecast to achieve a CAGR of 13.6 per cent during this period. The PwC report estimates that the market for real estate construction segment in India is likely to aggregate approximately $380 billion over the five-year period from 2012 to 2016,” said Dushyant Singh, Associate Director — Strategy, PwC.
The Big 5 is the largest event in the building and construction industry in the Middle East, Southeast and Central Asia which last year attracted over 60,000 audited buyers of construction products and is now launching in India.
Andy White, Group Event Director, dmg events, one of the organisers of the event, said, “Thanks to the wonderful support from FICCI and Ministry of Urban Development, Government of India, the first Big 5 Construct India show in Mumbai promises to be a huge success.”
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 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 attended the Big 5 in Dubai last year and would definitely attend the Big 5 in Mumbai and would strongly recommend my colleagues and peers from the industry to do the same.”
Today, The Big 5 has evolved into one of the largest and most influential construction industry events with a network that includes more than 300,000 construction suppliers and buyers from 120 countries worldwide.