Business

Construction Sector Set To Reach $1.4 Trillion By 2047; Focus On Sustainability And Low-Carbon Transition

The Indian construction sector is poised for exponential growth, with projections indicating it will reach $1.4 trillion by 2047, according to Shailesh Kumar Agarwal, Executive Director of the Building Materials and Technology Promotion Council under the Ministry of Housing and Urban Affairs (MoHUA).

Speaking at the Asia Low-Carbon Building Transition (ALCBT) Project orientation and certification program, Agarwal emphasized that achieving this ambitious goal will require innovation, productivity, and a strong focus on sustainability and mindful consumption.

Also Read: India’s Defence Sector Gears Up for Reform in 2025: A Roadmap to Self-Reliance

The event, organized by FICCI in collaboration with the Global Green Growth Institute (GGGI), aimed to train master trainers on Low-Carbon Building Transition for Building Materials Manufacturers and Technology Providers.

The ALCBT Project, supported by the International Climate Initiative (IKI) of the Government of Germany, is being implemented in five Asian countries, including India.

Agarwal highlighted the rapid pace of urbanization, which is contributing to the growth of the construction sector. However, he stressed the need for a shift towards reducing operational energy consumption in buildings and incorporating low-carbon materials into construction practices. This transition, he noted, is crucial not only for sustainable growth but also for minimizing the environmental impact of India’s burgeoning urban landscape.

Shibra Arshad

Recent Posts

India’s Flavours, Culture & Heritage To Grace New York At ‘NMACC India Weekend’

India is all set to bring its essence of aroma, taste, and culture to the…

24 mins ago

Home Minister Amit Shah Rules Out Talks With Maoists Holding Weapons

Union Home Minister Amit Shah reaffirmed the Centre’s commitment to end Naxalism by 31 March…

39 mins ago

Gold, Silver Prices Fall Sharply This Week; Global Trends, Geopolitical Easing Behind Dip

There is some relief for buyers as gold and silver prices dropped notably this week.…

1 hour ago

Ethanol Blending Boosts Farmers’ Income, Saves Rs 1.36 Lakh Crore In Forex: Hardeep Puri

India’s ethanol blending programme has reduced the country's dependence on crude oil imports and increased…

2 hours ago

Two Dead, 7 Missing After Cloudburst In Uttarkashi; CM Dhami Says Rescue Ops Underway

The landslide struck near an under-construction hotel in Silai, along the Yamunotri National Highway. It…

3 hours ago

President Trump Hails Senate Approval Of ‘Big Beautiful Bill’ As Republican Victory

US President Trump celebrated a key win as the Senate passed the ‘Big Beautiful Bill’…

3 hours ago