Enhancing the Impact of Make In India on the Indian Construction Industry

Seema Jobanputra  
Director, Ashar Group

Seema Jobanputra stands as a paragon of leadership in the real estate industry, having dedicated over two and a half decades to shaping skylines and fostering growth. A proud alumnus of Somaiya College of Science & Commerce, Mumbai, with a Bachelor of Commerce degree, Seema's journey with Ashar Group has been synonymous with the company's own evolution since its inception in 2001. Rising through the ranks with an ambitious spirit, charismatic presence, and a visionary mindset, Seema has ascended to the role of Director at Ashar Group.

The Indian construction sector stands at the forefront of the nation’s economic growth trajectory, pivotal in achieving ambitious milestones such as the $5 trillion economy target by 2025. The ‘Make In India’ initiative is central to this transformation, a visionary program launched in 2014 by PM Narendra Modi to catalyse domestic and foreign investments, foster innovation, and bolster India’s manufacturing capabilities.

 

Make In India’ has left an indelible mark on the construction landscape, particularly in architectural innovation and material sourcing. The availability of indigenous Aluminum Composite Panel (ACP) sheets, a lightweight and durable building material, has significantly reduced developers’ costs by up to 30%, amplifying the industry’s efficiency and competitiveness. The domestic production of ACP sheets has witnessed a remarkable surge, accounting for over 60% of the market share, a testament to the success of the ‘Make In India’ initiative in fostering self-reliance and promoting indigenous manufacturing. 

 

Moreover, the initiative has paved the way for substantial infrastructural advancements, notably in the Mumbai Metropolitan Region (MMR). Collaborative efforts between the Mumbai Metropolitan Region Development Authority (MMRDA) and NITI Aayog are aimed at doubling Mumbai’s GDP by 2030, supported by strategic investments in metro rail lines, tunnel roads, coastal roads, and solid waste management projects. MITRA will play a major role in the development of Maharashtra and will aim to turn its economy into one trillion dollars by 2027 and 3.5 trillion dollars by 2047. The upcoming Navi Mumbai International Airport signals further growth and development opportunities in the region. 

 

One of the most significant impacts of ‘Make In India’ lies in its emphasis on skill development and employment generation. Recognizing the construction sector as the second-largest employment generator in India, contributing to around 8% of the country’s GDP and employing over 51 million workers, initiatives have been rolled out to bridge the skill gap and equip workers with the necessary expertise. Comprehensive skill development programs, industry-academia collaborations, and vocational education initiatives are instrumental in nurturing a skilled workforce capable of meeting the industry’s evolving demands. 

 

This initiative has undoubtedly transformed the Indian construction industry, unlocking unprecedented growth opportunities and positioning it as a cornerstone of India’s economic resurgence. By embracing innovation, collaboration, and sustainability, the industry is poised to realize its full potential and contribute significantly to the nation’s overarching development goals. As we look towards the future, the Make In India momentum continues to drive the construction industry towards greater heights of excellence and prosperity.