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SUNRISE’ INDUSTRY RADIATES BRIGHT FUTURE


he construction industry in the country is the sec- ond largest after agriculture. Its size is approxi- mately Rs 1500000 crore. The size of the construction chemical industry in India is about Rs 1,600 crore thus, the scope of this business is large. Often described as a ‘sunrise industry’ the scope of construction chemicals in India is enormous. The general euphoria surrounds the industry today. Industry experts believe that the industry will grow in leaps and bounds. Markets reports show that the organised players control about 70 per cent of the market share. In India there are a large number of buildings which


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require renovation. The new laws provide for demolish- ing existing old structures and constructing new high rise buildings. Consequently, therefore the demand for con- struction chemicals for renovation of these existing build- ings has been on the rise in the short term. Additionally, the tropical climate, and in different cases when infe- rior construction material is used by some builders also they also cause many of these building to need repairs much earlier. This reflects that sub- standard construc- tion chemicals have been used in a large number of construction projects. The new construction projects market expected to grow at more than 30 per cent per annum for the next few years is also expected to increase the demand for construction chemicals. It is revealed that there is no published data available indicating the exact growth rate of the construction market. The Indian construction chemical market is highly competitive and fragmented, with large numbers of small and specialised suppliers and the current addition of small distributors who import these chemicals. There are a large number of global construction companies who have their local manufacturing operations in India and reports indicate that this market is likely to grow at the rate of around 10 – 15 per cent per annum in the next few years. The Indian construction industry is very large and


received a fillip with the government showing increased focus towards developing a strong and sound infra- structure setup in the country. The expenditure in the Eleventh Five Year Plan is a a testimony to this fact. It is imperative that building structures would require pro- tection from natural hazards and industrial corrosives and regular maintenance to sustain for a longer duration of time. Therefore chemicals used in construction impart these qualities to structures. The contribution of the construction chemical indus-


try is significant towards the country’s exports. Around twenty percent of the industry turnover is achieved through exports with the US, Europe, Germany and the SAARC nations as major exporting nations. Thus there is a tremendous opportunity for the chemical segment to support the foreign exchange earnings. There is a distinct lack of awareness of productivity improvement and value addition for the construction works if the chemicals are used on proper time and in proper manner. The cost of manufacturing of construction chemicals is considered to be low in India as compared to that of the western nations. Industry believes that with the Government’s decision to introduce hundred percent FDI in construc- tion industry - this has opened a great opportunity for the industry growth.


Voices


With the aim of increasing manufactur- ing sector’s share in to the GDP, a manu- facturing policy is likely to be unveiled in the next couple of months. He further added manufacturing sector’s contribu- tion to GDP is 16 per cent and that is just not enough. Jyotiraditya Scindia, Minister of State for Commerce and Industry


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The disinvestment department had factored in the ONGC transaction for meeting the divestment target of Rs 40,000 crore set for 2010-11. The Government has till date mopped up Rs 21,000 crore through the divest- ment of minority stakes in SJVNL, Coal India, Powergrid and Engineers India (EIL) Sumit Bose, Disinvestment Secretary, Government of India


Projects Info | 22 - 28 November | 2010 Market Index


Source: BSE


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