A review of unskilled and skill workforce on construction sector
Author(s): Pawar Satish Popatrao and Dr. Prashant S Lanjewar
Abstract: The stability of the Indian economy depends on the construction sector, which is the country's second-largest employment after agriculture. With a 10.5 trillion INR sector, it contributes over 8% of the country's GDP it supports close to 57.5 thousand individuals. Additionally, being a fundamental industry, a large number of other sectors rely on the nation's building industry. Consider the about 500-company construction equipment manufacturing sector, which is expected to generate INR 375 billion in revenue by 2020. Despite being very fragmented, the construction sector in India received the second most foreign direct investment (FDI) in 2017. Between 2008 and 2017, India spent almost INR 82.5 billion on infrastructure. By 2030, extra infrastructure spending of INR 337.5 trillion would be needed to maintain current economic development. Due to the sector's strong employment multiplier coefficient, an extra 2.142 billion person years of work are anticipated to be created up to 2030.