Construction sector may see $906 bn investment till FY'17

MUMBAI: The Indian construction industry is expected to see investments of over USD 906 billion during the current five-year plan period (2012-17). 

"We have seen slowdown in the 
real estateactivity, but it is expected to pick up in the near future. The Indian construction industry has huge potential of growth and is expected to see investments worth over USD 906 billion during the current five-year plan," Ficci Deputy Director Jasmeet Singh told PTI on the sidelines of `Construct India' conference here. 

Citing a PwC report prepared for the organisers of Construct India, Singh said India's construction industry contributed 8 per cent to the 
GDP in 2011-12 and employed 33 million people. The industry grew 5.9 per cent in 2012-13 as against 5.6 per cent in 2011-12. 

The foreign players are keen to enter the booming Indian construction market due to slowdown in Europe and other developed countries, he said.