Tech can balance development & sustainability in construction space, say experts
Prime Minister Narendra Modi announced an investment of ₹110 lakh crore in a National Pipeline Project in order to give a new direction to the overall infrastructure development of the country in his recent Independence Day speech. He also put forth that the govt. has identified around 7,000 projects in various sectors which will help strengthen the country’s overall infrastructure.
The Union budget for fiscal ’21 focussed on enhancing spending on infrastructure to boost India’s economic growth. This spending is in line with the global shift towards infrastructure building. The McKinsey Global Institute estimates that the world will need to spend $57 trillion on infrastructure by 2030 to keep up with global GDP growth.
But, as we get set to building new airports and transportation hubs, smart buildings and city infrastructure, the construction industry is realising the need to ride the digital transformation wave and usher innovation to make processes more efficient and cost effective. The industry has been relatively slow to transform its infrastructure into a digitized one.
