India may become 3rd largest construction market by 2020

A study by Global Construction Perspectives (GCP) shows that by 2025 India will become the world's third largest construction market. The study, which is conducted jointly with Oxford Economics shows, India would add 11.5 million homes a year to become a $1 trillion a year market by 2025.

The study predicts that while India's infrastructure market may grow at around 8 percent, the fastest among its sector, India is unlikely to achieve its plan target of $1 trillion investment in infrastructure, given the shortage of financing.

It shows that India is poised for a construction boom once global financial volatility passes. But it expect the short term prospects to be affected byfactors like high commodity prices, inflation and currency volatility.