By 2030, India's construction industry is expected to create over 10 crore employment, according to a report

The construction industry is India's second-largest employer, according to a recent research by Knight Frank India and the Royal Institution of Chartered Surveyors (RICS). The sector currently employs 7.1 crore (71 million) people, and by 2030, that figure is anticipated to rise to 10 crore (100 million).

According to the report, India's real estate industry is expected to generate USD 1 trillion in output by 2030, a significant rise from the USD 650 billion it currently generates. The paper discusses the current levels and gaps in the skilled workforce with an emphasis on skilled employment in the construction sector. It emphasizes that there would be a huge increase in need for qualified workers as India's real estate and infrastructure sectors continue to expand. Construction productivity has improved as a result of technological developments, which has raised the need for qualified labor.

Second-Largest Generator Of Employment

According to the report, the second-largest employer in India is the construction industry, which is expected to employ 71 million people (or 7.1 crore) by 2023. However, just 19% of this workforce is skilled, and 81% are unskilled workers. According to the survey, among other industries, consulting firms, building businesses, and developers will all have a need for qualified workers. Government programs, academic institutions, and training facilities are expected to provide the skilled labor supply needed to meet this demand.

The Results

According to estimates by the National Skill Development Council (NSDC), the real estate sector employs 87 percent of the total workforce (skilled and unskilled), while the infrastructure sector employs the remaining 13 percent. Out of the 71 million people that work in the construction industry, 4.4 million are core skilled workers like engineers, technicians, and office support staff, and 6.9 million are workers with vocational training. The research emphasizes how important it is to close the skill gap in the construction industry in order to maximize its potential for strong economic growth and to guarantee that employment goals are met.