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What are the current challenges faced by the construction industry?
In India we are facing a major challenge of shortage of adequate skilled resources across industry. We also fall short in proper planning and execution of projects due to lack of relevant technology and support system in the country. Since, most big players serve the government, the government’s mandate to go with the lowest bidder has also made it challenging to create an ecosystem focussing on quality and holistic evolution of the industry.
Why is it critical for the construction stakeholders to focus on robust process implementation across construction lifecycle?
It is important for any organization to continuously improve their processes to stay ahead of their competition or they just tend to perish.
How is the general response of the industry to the emerging technological advancements?
Indian construction industry has been a slow adopter of new technologies because in India, the patience to make long term investments is lower due to the cost constraints. Also, we as a country are less experimental and trust more on tried and tested solutions which reduces the opportunity to create a home-grown solution that fits our context. However, we believe this is changing and we are optimistic that India will see new technologies coming up in this industry.
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