Building a Sustainable Future
Bharat (India) is one of the fastest growing economies in the world. The focus of the Union government augurs well with its urban development programmes such as AMRUT, Swachh Bharat Mission, National Solar Mission, National Mission for Clean Ganga, FAME II, PMAY, Make in India, Digital India, Skill India, Startup India, etc. that positively impact the Smart Cities Mission.
Building Materials Industry
After agriculture, the building materials industry is the second largest industry in the country. Not only does the sectors employ a large number of people, but also contributes significantly to the nation’s economy. It accounts for 8% of India’s GDP and is valued at approximately $126 billion; industry reports forecast building materials to record a CAGR of 15.7% y-o-y to reach $738.5 billion by 2022. Major developments are expected in co-related sectors, which will, in turn, lead to the growth of the building materials industry by 10% in 2019.
The backbone for the overall economic development of the country has been our developing infrastructure market. Building infrastructure requires cement, ceramics, steel, windows and other construction materials which make the future of building material industry more promising. The launch of numerous ambitious building schemes in the recent past by the Indian government including industrial parks and corridors, smart cities, logistics networks, Housing for All 2022 scheme etc are strong contributing agents to the growth of the industry.