Visit any city in India, and you will see a monument that displays great architectural beauty. This is not just limited to ancient sights, but modern constructions as well. In a few decades, the construction industry in India has grown exponentially. It’s mainly divided into 3 core categories depending on the type of construction and its utility, namely residential & commercial accounting for 75%, infrastructure accounting for 40-60%, and industrial accounting for 15-20%. Expansive highways, huge dams, deeply connected roadways, multiple highrises, metro & railway projects are just the tip of the iceberg. The construction industry has made major contributions, so much so that today:
After agriculture, construction is the second largest industry in India
- An approx 16% of India’s population, i.e., 40 million people, are employed in the organized and unorganized construction sector. It’s an industry that requires intensive manual labour. Despite mechanization, the construction industry continues to create new jobs for people.
- It is projected that by the year 2022, India will be the 3rd largest construction hub globally.
- The Government of India (GOI) in 2021 allocated US$32.02 billion to enhance infrastructure. Apart from that, the National Infrastructure Pipeline (NIP) was extended to 7400 projects.
- It is this growth and these initiatives that are propelling the construction industry to newer heights. The question then arises, that if the construction industry lies at the heart of the economy, then what lies at the heart of the construction industry?
The Steel Industry in India – The Building Blocks of Construction
India saw a 25.6% rise in steel production in the first 8 months of 2021. Steel has consistently added to the growth of the construction industry and the nation.- It is currently contributing 2% to India’s GDP while creating close to 20 lakh jobs in the sector. In 2021, India exported 10.78 million tonnes of steel.
- India is also the 9th largest exporter of steel globally.
- We have achieved these numbers because India has the 4th highest reserves of Iron Ore – the core raw material used in steel production.
- TMT steel bars are tough, durable, and resilient, making them ideal for public construction activities as well. This ensures the structure stands strong over long periods of time.
- TMT bars are also used in thermal plants, flyovers, bridges, hydel power plants, metro, and road transport systems.
- TMT bars also have many benefits that make them ideal for use in construction. Its earthquake-resistant quality protects homes, especially in seismic zones. Apart from that, TMT bars are durable and highly resistant to wear and tear – making the structure safe for long duration.
Construction Industry in India – Creating Modern Marvels Since Ancient Times
