CBRE South Asia Pvt. Ltd recently announced the findings of its survey on “Journey from a developing nation to a developed nation”. The survey which included over 100 top corporates in the country and over 500 respondents was conducted by the Project Management group of CBRE. The survey was conducted to gauge the progress we have made in the development of Indian construction/infrastructure industry.
This survey has attempted to address perception/s of the construction and infrastructure industry through discussing – how far India is from becoming a ‘developed nation’; why are we not able to adapt better construction techniques from the developed economies; and what is the importance of investment in education, training, enhancement of skillsets in the construction industries.
The survey revealed some very critical and interesting findings:
- More than 85% of the respondents agree that Indian construction industry still needs to adapt to international standards on planning & delivering projects. Dominating factors being
o Lack of governance and implementation of existing policies
o Lack of Investments into research and development
o No incentives to adapt new techniques and technologies
- More than 80% agree that Indian construction industry needs to become an organized sector to increase the rate of development in India.
- Two-third of the respondents agree that most of the construction companies lack the management skills to understand and improve the process of development.
- Two-third agree on a severe shortage of skilled workforce at all levels.
- More than half the respondents agree that there is an immediate need for public and private investment for vocational training for meeting a skilled construction workforce