Gleeds: Indian Construction Costs A Biannual Review
The construction industry in India had benefitted from sustained growth in 2018 and 2019.
Growth forecasts were equally good for 2020 and beyond, however, the onset and spread of the Covid-19, declared as a pandemic in January 2020, has forced all industries to rebalance themselves to remain commercially viable in the new evolving world. It is, however, important to reflect on what the industry looked like and analyse the way forward in the given situation.
Distorted material supply, the reorganising of supply chains and the migrant labour exodus who will eventually return to construction sites post-monsoon / festive seasons have an impact on costs of construction as we know it. Newer technologies such as virtual construction, virtual reality, IoT sensors, prefabrication, touch-free controls are expected to take major strides in the near future.