The construction industry is the second largest industry in India after agriculture. Construction has been a significant contributor to the economy, accounting for approximately 8% of the GDP. In FY13, this sector grew at 13.9% (at market prices) over the previous year, marginally increasing its share of GDP. After a period of sustained growth, when in seven of the previous nine years economic growth exceeded 8% per annum, GDP estimates for the year ended March 2013 (FY13) indicated that year-on-year growth had dropped to a decadal low of 5% economic performance in the first few months of FY14 has continued to look weak, leading to concerns related to growth in the short term.
India’s construction sector is forecast to grow at 7-8 per cent each year over the next decade. With the new government, the country is expected to see increased economic growth and the removal of barriers to foreign investment that will "spur demand for construction" over the coming 12 to 18 months, according to a report by international consultancy giant PwC.
The report highlights how an estimated $1 trillion would be spent on infrastructure over the next three years to 2017. Stating that there would be increased investment in industrial projects by the government, the report has noted that it is the private housing sector that would be a key growth area. The total construction market in India for fiscal year ending March 2014 was $157 billion, an increase of $4 billion over FY2013. Infrastructure accounts for 49 per cent, housing and real estate for 42 per cent and industrial projects for 9 per cent, the report noted.
Tradologie.com is looking to replicate current business practices to introduce technology in the construction procurement & create a differentiation between the price of the product & the cost of finance being provided for its procurement. By minimizing the presence of intermediaries at various levels in the value chain, the Unique Procurement System developed by Tradologie.com shall surely prove to be beneficial to the actual stakeholders of the Industries.
The Products in the Construction Segment in which Tradologie.com aims to Establish Trading in are :-
- TMT BARS
- STEEL PIPES
- PVC PIPES
- WIRES AND CABLES
- SANITARY WARE