FCC

The skill shortage

2024-03-29

At a time when employment in the construction sector is estimated to grow to 100 million by 2030, a shortage of skills threatens to thwart the construction industry’s upside. CW explores how that gap can be filled.

Construction, spanning real estate and infrastructure, is India’s second largest employer with a workforce of 71 million, according to Knight Frank India (KFI) and the Royal Institution of Chartered Surveyors’ (RICS) 2023 report, Skilled Employment in Construction Sector in India.

The National Skill Development Council estimates that 87 per cent of the construction industry’s employees are absorbed by the real-estate sector, while 13 per cent work in infrastructure. However, only 19 per cent of the 71-million workforce is skilled and that is a matter of concern, especially as employment in the construction sector is estimated to grow to 100 million by 2030 to meet growth targets.