Skilled Workforce is the Future of Real Estate Sector in India
Indian construction sector is currently experiencing shortage of skilled workforce. With an aim to improve the current status, CREDAI has decided to train 13,000 workers across the nation with assistance of the government’s ‘Pradhan Mantri Kaushal Yojana’.
As per the recent evaluation by Confederation of Real Estate Developers Association of India (CREDAI), construction sector and real estate requires additional workforce of over 45 million in the next 10 years.
Government is currently progressing towards the milestone of “Housing for All”. To facilitate that, Finance Minister Nirmala Sitharaman in her maiden Union budget speech announced the additional deduction of Rs 1.5 Lakhs on house loans borrowed up to March 31, 2020 for purchase of houses up to Rs 45 lakhs.
Recent announcement by the FM has the potential to complement CREDAI’s stand on the need of additional skilled workforce in construction industry. With “housing for all” being one of the prime Government initiatives, skill training in construction methods can be very beneficial in the future, says Jayesh Dave, Chairman of Jayraj Builders Vadodara.
To accomplish such task, CREDAI has joined hands with PNB Housing Finance Limited (PNBHFL). Under this partnership, CREDAI aims at training 13,000 workers in the financial year 2019- 2020.
Based on the above observations, Mr Jayesh Dave said, “High unemployment rate coupled with unskilled workforce isn’t an ideal situation for a developing nation such as India. Hence upgrading the skillset is a current necessity to boost the status in construction industry.”
It is not a hidden fact that skilled workers earn more than the unskilled ones. They can build better buildings, save materials and construction costs. With the world bearing the side effects of global warming, sustainable construction practices becomes quite essential. Hence, training the unskilled workforce will help in saving the valuable resources and develop a better housing module in India.