Building, Construction And Real Estate Sector To Become The Highest Employer By 2022: Report

BANGALORE: A report by the National Skill Development Corporation (NSDC) predicts an increase of 7.65 crore jobs in the building, construction and real estate sector.

The study reveals that NSDC had taken 24 sectors under their consideration, out of which, they expect the building, construction and real estate sector to create incremental human resource requirement in the next seven years.

The study also states that these sectors will require skilled and professional human labor force in order to meet the growing expansion of housing, IT and financial services in Tier-II and Tier-III cities. "We need manpower, proficient with excellent skills on technical abilities. The industry and the government need to pay a special focus on this segment of workforce," commented Dilip Chenoy, MD & CEO at NSDC.

 “Over the last five years, under NSDC, more than 5 million (cumulatively) workers have been skilled and more than 1,537,657 (cumulatively) placed.”

The NSDC report also confirms that the construction sector is one of the largest seasonal high organized employment generators in the country, after agriculture. It is expected to grow up to 11.9 lakh crore by 2017.

The report also states that the central exchequer, construction sector creates more than 4.5 crore jobs for various strata of the country. However, shortage in availability of necessary talent is a long term issue that has led to capital outflow and risks.  

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