Upskill to Upscale
India’s construction sector is the second largest employment generator with 7.1 crore workforce employed currently and the number is set to cross 10 crore by 2030, according to Knight Frank-RICS report. The output generated from the Indian real estate sector is estimated to grow to $1 trillion by 2030 from the existing $650 billion, it added.
With the Indian residential real estate market at an all-time high, continuous skill enhancement is the key to keep the momentum going. “Owing to the growing demand for real estate and infrastructure, the demand for skilled employees will continue to arise from developers, construction companies, consulting firms, etc., whereas the supply of the skilled manpower is to be generated from government initiatives, academic and training institutes,” the report added.
In fact, Boman Rustom Irani, President, CREDAI National, also recently stated, “As India aims to become the ‘Skill Capital of the World,’ elevating the skilling ecosystem is imperative. By collaborating and aligning efforts, the Government and industry stakeholders can shape a skilling ecosystem that sets new benchmarks for excellence and drives economic growth. Through these concerted efforts, we can unlock a brighter future for individuals, industries, and the nation. Maximizing capital utilisation and boosting the talents and efficiency of construction workers would also give vital government programmes like ‘Housing for All’ a huge impetus in the coming years.”
In cognizance to this, last year we also saw the Ministry of Housing & Urban Affairs (MoHUA) launching – National Initiative for Promoting Upskilling of Nirman workers (NIPUN) – an initiative to train over 1 lakh construction workers, through fresh skilling and upskilling programmes and provide them with work opportunities in foreign countries also.
Construction equipment players have also been taking incredible efforts in this direction to upskill workforce on the fast shaping up developments in the equipment space so that they can cater to the latest demand in the future. With industry players taking the lead in opening training centres, we will soon witness an era of technologically equipped workforce to serve to the ever-growing customers’ expectations.