Overseas Opportunities in the Construction Sector

The construction sector is directly linked to infrastructure spending and enables the development of a region. Electricity, roads, water systems, railways, airports and ports are drivers of growth. According to current estimates, global infrastructure spending in the US is $3 trillion. A recent report from Oxford Economics suggests that China is the world leader at 26.1 percent in terms of contribution to global construction growth 2020-2030. This is followed by India at 14 percent and the US at 11.1 percent. The growth contribution this decade is expected to be 35 percent higher than the previous one.

That said, the construction industry has been hit hard by COVID-19. According to a report by the World Bank in 2020, the recovery of the worst-hit countries from the pandemic-induced global GDP decline could take up to ten years.

For our part, the Indian construction industry provides large-scale revenues for the expansion of domestic Indian manufacturers. The US remained the main destination for Indian products, accounting for about 17 percent of exports. Other countries that account for 38 percent of exports are Germany, France, China and Canada.

Against this background, India's Engineering Export Promotion Council (EEPC), in collaboration with CW, hosted a webinar on 'Overseas Opportunities in the Construction Sector' on 5 October.