Mumbai: India’s construction industry is expected to reach Rs 25.31 trillion in 2024 with a projected CAGR of 9.6% between 2024 and 2028, according to Yogesh Mudras, Managing Director, Informa Markets in India.
Mudras was speaking during the 10th edition of the “World of Concrete India 2024” three-day event, which opened here on October 16, showcasing industry insights and global innovations.
Noting that 15,000 delegates are expected to attend this event alongside global brands and exhibitors from key markets like Germany, Italy, USA, Kuwait, South Korea, Finland and Japan, Mudras said this construction industry growth acts as a catalyst for several allied industries, including cement, steel and real estate.
Urging States and Central governments to incentivize ‘green’ builders, Jay Morzaria, Chairman, NAREDCO NextGen &Committee Member, NAREDCO Maharashtra, said the construction industry is now entering a new era that called for reimagining sustainability and development of concrete going hand-in-hand.
K. Vishwanathan, President, Builders Association of India (BAI) said the BAI’s focus is on building “Zero Energy” structures that were resilient enough for a sustainable future.
Tejas Sura, Treasurer, American Society of Civil Engineers—Indian Section Western Region, said the industry needed civil engineers who were conscious of the related environmental problems and the next generation of these engineers needed to be multi-disciplinarian in this regard.
While the need of the hour is to assure concrete quality, the world is witnessing adverse effects of climate change and needs to move towards a sustainable future, he said.
A representative of the Greater Mumbai Municipal Corporation said the metropolis is witnessing use of Pre-Cast concrete in making roads within one night — and repairing potholes within one hour with rapid-hardening concrete called +geopolymer concrete+ – to enable immediate traffic movement.
The event also highlighted unique participating companies including one which manufactured sand – a critical component for concrete. With digging for sand from the rivers facing problems, Amardeep is showcasing its eco-friendly M-Sand — that is made from mining waste comprising crushed and washed basalt rock from which silt is eliminated to produce the required result.
