According to a study conducted by ASSOCHAM, the domestic construction enterprise is expected to grow at the rate of 15 percent per annum and will touch US $120 billion, by 2012 from its current size of over US $70 billion, whereas the manufacturing sector is estimated to grow by 9.5% from 8%, last year.
ABG Shipyard Ltd Group explains that these sectors are high potential sectors, which will attain global glory. In a few years, the manufacturing sector will take a global stage and will be very prominent in the world map. Experts say that with this boom, an array of career choices will open up for job aspirants and that they will have a range of choices to excel.
Experts say that engineering graduates will have hundreds of challenging career opportunities due to the constant demand for their services. They, also state that this situation persists, thanks to high job satisfaction ratings due to the profession’s financial security, and highly creative, intellectual environment; not to mention the rewards of being able to benefit society through scientific and technological discovery. The engineering industry has always had a requirement for high quality talent. Firstly it did not appear as if it was booming because other sectors were recruiting in larger numbers. Today, the scenario has changed. Therefore, in comparison, it seems as if there is a boom in the engineering industry. Secondly, there was large scale migration of talent from engineering industry to other industries, notably IT. This necessitated recruitment of replacement in fairly substantial numbers.
The construction and real estate sector is one of the largest employment providers, for so many years. But now with the real estate boom, new avenues are opened, which has brought forth excellent job opportunities. The job prospects in the industry are not confined to just construction labor and civil engineering. The growth of organized construction and building industry, especially housing and urban development spawned a plethora of opportunities and the benefits are there for professionals, of all hues and colors. Flooded with huge investments, India’s infrastructure sector has emerged as the top employment generator cornering 12 percent share in the total jobs created during the first three months of 2008-09. The sector created 12,580 job opportunities out of a total 1,05,638 in areas of aviation, construction, energy, core infrastructure, metals and mining between April-June 2008. The construction segment provided maximum job opportunities with a share of 24.32 percent in the sector.
By now, it is well-known fact that the future of these industries will be shining. A study conducted by ASSOCHAM, states that the burgeoning Indian construction industry, currently worth $70 billion, will raise to US $120 billion by 2010. This growth is believed to be people intensive. The Indian construction industry is growing at a standard rate of more than 30percent per annum, since 2005. This rate of growth is expected to continue till 2012. Even though there is currently a shortage of manpower, the boom in the industry is slowly attracting more trained manpower, towards this sector.
In the end, the Indian engineering, construction and manufacturing sector will continue to boom in the near future. All fields in the modern economy have been invigorated by engineering technology. Engineers are essential to our lives as they help design and create everything from agriculture systems to household electronics and daily transportation. There are plenty of great employers out there and they are willing to pay megabucks for candidates who possess the right skills, enthusiasm and experience. Simply put, the future is very buoyant, very vibrant and very high-tech.