During the current five-year plan period (2012-17), Indian construction industry is expected to see investments of over $906 billion. Federation of Indian Chambers of Commerce and Industry (Ficci) Deputy Director Jasmeet Singh said this on September 4 in Mumbai. Despite the current slowdown, Indian construction industry has huge potential of growth, he added.
He stated that the foreign players are keen to do business in the booming Indian construction market due to slowdown in Europe and other developed countries, he said.
Though currently the real estate activity is slow in the country, it is expected to pick up in the near future. He said India's construction industry contributed 8 per cent to the GDP in 2011-12 and employed 33 million people. The industry grew 5.9 per cent in 2012-13 as against 5.6 per cent in 2011-12.