The infrastructure sector across the world is bringing in modern technologies and state-of-the-art facilities to the people.
India is growing at lightning speed like never before. Investments are pouring in to build high-end commercial facilities, industrial zones, public transport, residential areas and lots more. The future forecasts look good for India and other nations of the world but there are challenges too.
Current Market Scenario
With globalization and other factors, infrastructure boom is being seen in developing nations. Urban growth will be witnessed mainly in India, Indonesia, Nigeria, and other developing nations. Government policies are offering new opportunities for infrastructure investors.
At present, the government is rolling out transport infra projects such as metro rail, bullet train, roadways, etc. But the growing number of people in the major cities of India continue to overcrowd the new transport systems. Power outages still exist in various parts of the country.
In India, the population continues to grow. But corruption still continues to pose problems for infrastructure developers. While there are hurdles in the growth of infra projects, it gives new opportunities for creating better projects in the future. The good news is, there are several ambitious projects that are in various stages of project planning and implementation at the moment.
India’s public, as well as private projects, usually have tie-ups with foreign partners who are chosen for their specific expertise. The talent in India also gets ample opportunities to be a part of these future-focused projects.
Top Infrastructure Companies in India
Reliance Infrastructure Limited
GMR Infrastructure Limited
IRB Infrastructure Developers Limited
Jaiprakash Associates Limited
Nagarjuna Construction Company Limited (NCC)
Hindustan Construction Company (HCC)
GVK Power and Infrastructure Limited
Lanco Infratech Limited
Punj Lloyd Infrastructure Limited
As infrastructure grows, the risk of political interference increases too. Climate change has to be considered for infrastructure projects too. The more frequent occurrences of natural calamities such as tsunami, sandstorm, hurricane etc. are not only taking lives but also questioning the sustainability of infrastructure projects in the future.
New projects with high-speed trains are under planning or execution to reduce travel time and increase convenience for commuters. Futuristic projects such as Hyperloop, Space Travel etc. are already being explored.
As per a leading industry report on future infrastructure projects, $57 trillion will be required as the investment on infrastructure by 2030.
Barren lands, open deserts, and many unexplored areas will be tapped to build infrastructure powered by renewable sources of energy such as solar energy, wind energy etc. Investments in mass transit will add to the convenience of people from across the world.
By 2030, 40% of the population of India is estimated to be living in cities. According to a report by RICS, India is heading towards becoming the world’s 4th largest infrastructure market by 2025. With the increase in infrastructure projects, there will be a need for engineers, technologists, project managers and many other professionals to manage these projects.
Problems Due to Environment Health & Safety Issues
There are several issues reported on project sites. Certified Occupational Health and Safety professionals are hired by reputed enterprises to take care of these issues. The major environmental concern due to infrastructure is pollution and deforestation.
The problems related to safety include accidents due to inadequate safety gear is worn by unskilled workers, technical issues etc.
Infrastructure is an industry that has tremendous scope across various domains. Even though automation will transform the way this industry operates, there will be the need for skilled and technically-sound professionals required in this industry.
To conclude, in spite of various risks, the industry will continue to grow because people want a better lifestyle, better facilities and governments want it too.
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