A PROFILE OF CONSTRUCTION INDUSTRY IN INDIA
Keywords:
Construction industry, management, project, cost, infrastructureAbstract
The present study reports profile of construction industry in India. It points that construction industry is one of the oldest industries providing ample employment to the people from village level to metropolitan cities. The size of construction industry ranges from small company owned by one or two individuals to a large industry employing thousands of people.
In the present work inherent nature of construction industry have been discussed and concluded that it is infrastructure or capital formation industry, which directly and indirectly uses capital goods and all other types of resources.
It has been also highlighted that government agencies has direct interference in construction activity right from acquisition of land to commissioning of the project.
To face the temporal variation of feast and famine state of construction industry emphasis on systematized management has been suggested.
Like any other business, failure of construction companies is also very common. This issue has also been overviewed. Incompetence, lack of experience, newness, smallness and financial handicap are the few reasons cited for such failures.
It has been concluded that lessons should be learnt from failures as success is never final and failure is never fatal. It is the courage of management that counts. At last it is not failure but low aim is a crime.
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MPRA PaperNo.9339,June2008
