Report on upcoming EPC Opportunities in India 2017
EPC INDUSTRY IN INDIA HAS BECOME SYNONYMOUS TO MULTI MILLION DOLLARS COMPLEX PROJECTS WHICH ARE BEING EXECUTED BY BOTH PRIVATE AND GOVERNMENT MARKET PARTICIPANTS
India has seen EPC industry translating from a relatively mediocre industry to a behemoth. This turnaround was basis the fast paced growth which the Indian economy witnessed in last decade to fifteen years of time. Today, the EPC industry of the country has become synonymous to multi million dollars complex projects which are being executed by both the private and Government market participants. However, a decade ago Indian EPC industry was categorized by small projects which were not that complex in nature and plagued by multitude small packages and subcontracts. But, in the current scenario it has squared with huge and unique opportunity due to galloping Indian economy and the planned investments in public and industrial infrastructure. This scenario has fuelled India to have recognition on global front. The EPC sector has witnessed consistent changes over past decade and has seen a smooth transition in terms of increasing project size, scale and market maturity.
E&Y Report on EPC in India 2017
Indian construction sector
The construction sector in India is the country’s second-largest economic segment after agriculture. It employs more than 40 million people and contributed nearly 8.1% to the national GDP in 2012–13. It is expected to have contributed 7.8% in 2013–141.
According to industry estimates, the Indian construction industry was worth INR8,184 billion in FY13, which is estimated to be INR9,013 billion in FY142. Prior to the global economic crisis in 2008, the industry grew at more than 10% during 2005–07. After 2008, the growth moderated, with the industry registering an average real growth rate of 4.8% during 2008–2014. However, the industry is now expected to recover with the formation of a stable government at the center and its thrust on infrastructure development to revive economic growth.
Affordable homes draw biggies