The world of construction is coming to India

The news on the Indian economy has gotten better. As it inched past France to become the sixth largest economy in the world with a GDP of $2.59 trillion, the country’s growth numbers for fiscal 2018 seem to be within reach at 7.3 per cent, and then onwards to a tough 7.6 per cent in fiscal 2019.

The Sensex is at an all-time high having crossed 37,000 for the first time ever, amid worries over oil and trade war escalation. The reason for this jubilation in the financial markets comes from the defeat of the no-confidence motion, a strong monsoon season so far, and a weak rupee spurring export growth. The corporate results of the consumer and IT sectors have been strong. Banks are seeming to find a resolution, having found takers for their stressed assets such that they are put to work again very quickly.

Although capacity utilisation is above 70 per cent, at the aggregate level, the announcement of new projects is lagging. The optimism reflected at the bourses may suffer a bout of correction as liquidity, which is driving the financial markets, begins to ease as interest rates are set to rise.

States are determining their pace of growth, which was amply demonstrated during the no-confidence motion by Andhra Pradesh. Recently, it announced the building of ‘Construction Cities’ throughout the state to facilitate large-scale construction and promote modern and advanced construction techniques and technology. The aim is to make available all building materials and construction equipment and a supporting ecosystem under one roof. FIRST Construction Council, a non-profit research body promoted by ASAPP Info Global Group, organised a stakeholder discussion meet along with Andhra Pradesh urban officials in Mumbai. As mega projects require a consortium approach, integration has become a key component of successful bidding.

The CONSTRUCTION WORLD Architect & Builder (CWAB) Awards, in their 13th year, are expanding their blueprint. This year’s edition features the iCUBE Conference, an expo and the awards. Sought-after Shanghai-based duo Neri & Hu are the keynote speakers. The awards are the culmination of a time-tested process that took on four regional exploration zones: Kolkata, Pune, Delhi and Bengaluru. The winners from the regional nominations will be invited to attend the nationals at CWAB on September 12, in Mumbai. Scouting for new talent has been CWAB’s top priority and this year will add the regional zing to its portfolio of ‘Noteworthy Project’ awards too.
A month later, on October 24-25, CONSTRUCTION WORLD and the world’s most recognised engineering magazine, New York-based Engineering News-Record (ENR), are together bringing the INDIA CONSTRUCTION FESTIVAL to New Delhi. Top CEOs of global engineering firms will visit the Festival; debate and deliberate at the CONSTRUCTION WORLD Leadership Summit; and receive awards at the CONSTRUCTION WORLD Global Awards.

The stage is set for business.