PRATAP PADODE, Editor-in-Chief, CW, and President, FIRST Construction Council, speaks on technology in the construction industry.
We are living in an age of disruption'a and technology is leading this disruption. Disruption is caused by factors that challenge the normal.
But what about the construction industry?
ASAPP brands have been serving the construction, infra and engineering industry for over four decades. We have recognised, honoured and advocated v and now we are ready to accelerate this industry with our commitment to obtaining outcomes. One such initiative is the INDIA CONSTRUCTION FESTIVAL. It aims to bring global engineering expertise to India so that our engineers and our engineering companies can scale up to get a big slice of the engineering process outsourcing business, which is likely to shift to Asia. India's best and global leaders in contracting and engineering will converge for this event in Delhi on October 24-25. Our keynote speaker is a UK-based economist who has forecasted that India will be the fastest growing construction market in the world by 2030.
After realising that pursuing desirable outcomes required a constant engagement with stakeholders, we have been pursuing urban local bodies and city administrations to support the Smart Cities mission through our Smart Cities Council, which is affiliated to the Global Smart Cities Council.
It is abundantly clear that constructed properties would fetch better interest from buyers, apart from exempting them from GST charges. This would mean that if a developer can improve his balance sheet and can have access to funds, his next priority has to be speedy and timely execution. Delivering the project in time or ahead of time will help build the developer's brand; like the brand µIndigo', which flew into the top spot despite a headstart by several airlines principally because it managed to keep its costs low and delivered record µin-time' arrivals reaching passengers to their destination.
Executing in time would mean using skilled labour and technology. Both are currently not the industry's favourite topics. Augmented reality, drones, BIM, GPS are being adopted but very grudginglyasorry, I meant gradually!
But, despite the averseness to technology, disruption has not eluded the construction industry entirely v and I am not referring to demonetisation and RERA. Incidentally, RERA has been adopted by 20 out of 28 states (J&K not included), and more than 35,000 projects across the country have been registered.
= Co-sharing spaces
= Trends in housing in Tier-II and Tier-III cities
= Budget hospitality
= Affordable housing
= Population shift
= Traditional premium locations set to change.
Nothing is permanent but change. And I quote Steve Jobs: (The people who are crazy enough to think that they can change the world are the ones who do.