India's Construction Industry Set to Hit $1.4 Trillion by 2047; Experts Emphasize Green Technology
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Synopsis
India's construction sector is on a trajectory to reach $1.4 trillion by 2047, according to Shailesh Kumar Agarwal from the Building Materials and Technology Promotion Council. The Indo-German supported ALCBT Project focuses on sustainable practices and reducing carbon emissions in the industry.
Key Takeaways
- India's construction sector projected at $1.4 trillion by 2047.
- Focus on sustainable building practices and low-carbon materials.
- Need for operational energy reduction in buildings.
- Collaboration between India and Germany on climate initiatives.
- Training of over 2,100 professionals in low-carbon concepts.
New Delhi, Jan 23 (NationPress) India’s construction industry, which is experiencing rapid growth, is anticipated to reach $1.4 trillion by 2047, as stated by Shailesh Kumar Agarwal, Executive Director of the Building Materials and Technology Promotion Council within the Ministry of Housing and Urban Affairs.
During the Indo-German sponsored Asia Low-Carbon Building Transition (ALCBT) Project event, he emphasized the importance of sustainable building practices and reducing carbon footprints.
Agarwal noted that urbanization is accelerating and highlighted the necessity of minimizing operational energy in the buildings sector, in addition to utilizing low-carbon construction materials.
“To accomplish this, we must rethink our construction methods, concentrating on recycling and responsible consumption,” he remarked.
The master trainer program on ‘Low-Carbon Building Transition for Building Materials Manufacturers & Technology Providers’ was coordinated by FICCI in collaboration with the Global Green Growth Institute (GGGI).
This initiative is being executed by GGGI across five Asian nations, including India, with support from the International Climate Initiative (IKI) of the German Government.
Taina Dyckhoff, Head of the Environment Division at the German Embassy, remarked that India and Germany are collaborating closely on climate change through the Indo-German Green and Sustainable Development Partnership.
The partnership encompasses various efforts related to climate mitigation, adaptation, natural carbon sinks, and biodiversity preservation.
“The capacity-building initiative under the ALCBT project will foster awareness among all stakeholders in the building ecosystem,” she added.
Pravatanalini Samal, Director of the Bureau of Energy Efficiency (BEE), Ministry of Power, underscored BEE’s energy efficiency efforts across industries, buildings, and appliances. “The building sector consumes substantial energy, particularly for cooling,” Samal stated.
Soumya Garnaik, Country Representative for India at the Global Green Growth Institute, indicated that the ALCBT Project aims to incorporate low-carbon principles in both existing and new buildings. “With over 70 percent of buildings expected to be constructed in the coming years, this offers a significant opportunity for India to adopt low-carbon alternatives. This initiative is projected to train over 2,100 professionals in the next two years,” Garnaik explained.
