The skill shortage
29 Mar 2024 CW Team
At a time when employment in the construction sector is estimated to grow to 100 million by 2030, a shortage of skills threatens to thwart the construction industry’s upside. CW explores how that gap can be filled.
Construction, spanning real estate and infrastructure, is India’s second largest employer with a workforce of 71 million, according to Knight Frank India (KFI) and the Royal Institution of Chartered Surveyors� (RICS) 2023 report, Skilled Employment in Construction Sector in India.
The National Skill Development Council estimates that 87 per cent of the construction industry’s employees are absorbed by the real-estate sector, while 13 per cent work in infrastructure. However, only 19 per cent of the 71-million workforce is skilled and that is a matter of concern, especially as employment in the construction sector is estimated to grow to 100 million by 2030 to meet growth targets.