India's Ambitious Infrastructure Plans - Politics | PoFo

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NEW DELHI: India's infrastructure sector will require investment of about USD 1 trillion in the 12th Five Year Plan, double the amount envisaged in the ongoing plan period, a report says.

According to a report 'Real Estate and Construction Professionals in India by 2020' by realty consultant Jones Lang LaSalle, investment in infrastructure during 2007-12 is USD 500 billion.

"The expected level of infrastructure investment predicted in the 11th Plan is 2.36 times that of the 10th Plan. Furthermore, this is expected to almost double for the 12th Five Year Plan," the report said.

The report, which was prepared for Royal Institution of Chartered Surveyors (RICS), also pointed out that about 97 million jobs are likely to be created over the next 10 years across different sectors in the country.

"In 2020, the workforce participation rate will increase to 42 per cent with 585 million working population, implying net increase of 97 million people," it added.

Due to this huge increase in jobs, India may need to potentially build an average of 8.7 billion sq ft of real estate space every year, adding up to a whopping 95 billion sq ft between 2010 and 2020, RICS said.

The study, however, said there is a huge shortfall of skilled manpower in the infrastructure sector that needs to be addressed with urgency.

"The country is currently facing massive shortages of skilled workforce in the construction sector. If we do not address this issue, it will be a big deterrent for us," RICS South Asia Board Chairman Anshuman Magazine said.

As per estimates, only 27,000 civil engineers are added every year against an annual demand of 4.27 million for the next decade. India's total strength of civil engineers is about 5,33,000.

"A sustained period of shortfall in annual supply, coupled with an increasing year-on-year demand, could result in a cumulative demand of nearly 40.2 million civil engineers over 2010-20, with a shortfall of 39.4 million civil engineers over the same period," the report highlighted.

Similarly, the country is likely to witness a total shortfall of 3.64 million architects and 1.1 million planners during 2010-20 period.

The survey, however, said the estimated supply of non-core professionals in the built environment sector is nearly three times the supply of core professionals, but they fall short of desired skills.

http://articles.economictimes.indiatime ... -shortfall
This is an interesting article.

As someone who lives in South Korea, a country with perhaps a surplus of very well educated civil engineers and a number of very experienced large scale construction companies (Hyundai/Samsung/Lotte/Posco, etc.) there are bound to be opportunities for Koreans. I just hope they realise it sooner rather than later.
Japanese have shown interest and are currently working with the Indian goverment on preparing a feasibility plan on MEGA Industrial corridors between metropolitan cities in India. One such plan for your reference. India's Infrastructure growth might not be as fast as China, but it will definitely be strong.

From wikipedia :
The Delhi-Mumbai Industrial Corridor Project is a State-Sponsored Industrial Development Project of the Government of India. It is an ambitious project aimed at developing an Industrial Zone spanning across six states in India. The project will see major expansion of Infrastructure and Industry – including industrial clusters and rail, road, port, air connectivity – in the states along the route of the Corridor. The ambitious Delhi Mumbai Industrial Corridor (DMIC) has received major boost with India and Japan inking an agreement to set up a project development fund. The initial size of the Fund will be 1000 crore (US$184.0 million). Both the Japanese and Indian governments contribute equally.

and there are major plans for boosting their massive railway network. Public Private partnerships are the key.
I-stat wrote:India's Infrastructure growth might not be as fast as China, but it will definitely be strong.

This will be good for Australia too. The resources sector is far too dependent on the Chinese market. I hope these plans will go through to fruition.
The Delhi-Mumbai Industrial Corridor Project is just an unsustainable unworkable pipe dream and is not going to happen. But yes in the name of this "development" many farmers will loose their land.

Then, all this talk about mega investment is based on faulty asssumption of a regular 9% growth rate of GDP in coming years which is not going to happen either.
The last I checked fuser, neither did the Reserve Bank of India's Chief nor the chief ecnomic advisor to the ruling party claimed 9 % growth. It pays to listen properly sometimes. They have all been saying even 8% growth would be a struggle for India, though they would like to be there. That being said, even 5-6% for an economy like India is huge.

http://articles.economictimes.indiatime ... ome-growth

The above is India's planning commission talking about how the growth might dip to 5%.
way to miss the point. Of course now no one is claiming that but this "mega investment" was based on an assumption of 9% growth only, (see the linked article) which is not going to happen which has been even admitted by as you said RBI and chief economical advisor. You are just enforcing my point.

They were not always sayong that India's growth will dip to 5-6%, this realaization is fairly recent.

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^ @annatar1914 You nailed it.