Digitisation drives Construction Growth

Technology

While digital India grows stronger, the construction industry stands out by shying away from technology.

Why?

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