Digitisation drives Construction Growth
While digital India grows stronger, the construction industry stands out by shying away from technology.
Common reasons cited are that contractors in India are cost-conscious and work on thin margins while technology is expensive. Or, contractors are less aware of the endless possibilities and benefits technology presents. Or, even that “construction has been a grey area in the sense that the sector has been very ‘cash flow’ dependent compared to other sectors such as, say, logistics or medicine, where transactions mostly happen through a bank,” to quote Prabh Paul, Partner, Tracecost, a construction management solution. “Often those engaged in such transactions don’t desire transparency. Unless this changes, the adoption of tools enabling t