Emerging Managers
Mr. Shubham Yadav MBA, Batch 2020-2022 RICS School of Built Environment, Amity University, Mumbai
Impact Of COVID-19 On Construction Industry The construction industry in today’s era is known to be the second-largest employer in the country after agricultural sector, construction industry has been significantly impacted due to the ongoing covid-19 pandemic situation. This outbreak has not only affected many people working in the sector but also the investors as well as customers. Real estate and construction sector is very badly affected as it consists of the 7% of the GDP of the country and it employees 15% of the labour force of India with the Nations Lockdown it is severely impacted. Since it is a labour-intensive industry 269 industries along with it got affected because its resources materials of different kind from Iron, steel and nails to smallest of small items different kind goes into the building Industry. Major stakeholders in construction industry such as supply chain vendors, contractors, subcontractors, developers and Owners they have experienced varying degrees of overall impacts as a result of the COVID-19 pandemic. This outbreak of Corona has deeply impacted the complete chain and spectrum of the real estate industry, including
residential, commercial, retail, and construction segments. The restrictions imposed by the Government of India as well as State Governments and the Union Territories to control the spread and the impact of the covid-19 virus has affected work on projects, it has heavily impacted supply chains, plant, equipment, materials and manpower. Before this pandemic situation, the construction industry was recovering from a few minor issues like Demonetisation, policy changes (RERA), changes in taxation (GST). Since the construction industry is facing a problem due to migration of labour and limited supply of raw material it has halted the activities in construction industry. Investor and consumers who have invested their savings they are expecting timely delivery of their projects. Difficulties faced by Construction Industry Manpower plays a vital role in the supply chain of construction industry and due to lack of manpower it impacted the speed of construction projects. Due to Migration of labour in Pandemic,
KAIZEN’S OPERATIONS & RESEARCH ENTITY
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