The Indian edition of Global Construction Survey 2023 shows that the Indian construction industry exhibits a higher positive outlook with a resounding 8 out of every 10 respondents feeling optimistic on the future direction of the construction market. The respondents have demonstrated new strategies and mitigation methods to become more resilient, remain competitive and ensure continued growth regardless of the industry facing headwinds from a volatile implementation environment - labour shortage, low productivities, supply chain disruptions, regulatory hurdles and challenging land acquisition scenarios.
The India edition of Global Construction Survey 2023, the first of its kind for our India-region and international readers which is built on the back of the 14th edition of KPMG’s Global Construction Survey covers important topics relating to construction industry growth opportunities and sentiment, performance and resilience, risk management, ESG, work-force safety, wellbeing and motivation, digital technologies and innovations including modular and offsite construction methods. The survey findings are complemented by insights and points-of-view from KPMG experts and point-of-views from our participating industry leaders representing the full stakeholder spectrum of project owners, engineering and contracting (E&C) firms, and the government.
Decarbonisation is becoming a central part of construction projects, and respondents listed energy efficiency, reducing construction waste, and more efficient use of materials as the most important decarbonisation practices. As ESG has risen up the agenda, focusing on ESG will not only improve their access to capital for funding projects but also help establish the significance of possessing robust sustainability credentials to meet investor expectations, and attract better talent.
Leaders in the industry have rated adoption of technology as the game changer to transform performance. Digital and innovative technologies offer the much needed performance boosts that can possibly overcome relatively uncontrollable factors enabling projects to achieve schedule and budget expectations. This survey clearly establishes the growing acceptance for the multiple digital and technological innovations basis the highest performance improvement and the return on investment achieved.
Read the survey to review the familiar challenges faced and new approaches being adopted by our Industry. If you have any questions or wish to discuss on the components of the report, please feel free to reach out to us.