Infra sector requires $1 trillion investment

Infra sector requires $1 trillion investment

As per research report ‘Real Estate and Construction Professionals in India by 2020’ by RICS (Royal Institution of Chartered Surveyors), investment in infrastructure during 2007-12 is $ 514 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 also said 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.

However the study cautioned about possible huge shortfall of skilled manpower including civil engineers and architects in the infrastructure sector that needs to be addressed with urgency.
As per estimates, only 27,000 civil engineers are added every year against an annual demand of 4.27 million for the next decade.