The construction equipment industry is pivotal for economic growth
The construction industry is a major contributor to climate change, so there is a growing demand for eco-friendly construction methods and materials. By combining sustainability and innovation in technology, India can create a world-class infrastructure system that can support its economic growth and social progress, writes V G Sakthi Kumar, CMD, SCHWING Stetter India.
Infrastructure, investment, innovation, and inclusion are all important factors for economic growth. Some of the trends driving changes in infrastructure are:
Digitalization: The use of digital technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and blockchain, is transforming the way infrastructure is designed, built, and operated. For example, IoT sensors can be used to monitor the condition of infrastructure assets in real-time, and AI can be used to optimize traffic flows and energy usage.
Sustainability: There is a growing focus on building sustainable infrastructure that minimizes environmental impact. This includes using renewable energy sources, reducing water consumption, and designing infrastructure that is resilient to climate change.
Collaboration: Infrastructure projects are becoming increasingly complex and require collaboration between different stakeholders, such as governments, businesses, and civil society. This is necessary to ensure that projects are delivered on time and within budget and that they meet the needs of all stakeholders.
Public-private partnerships: Public-private partnerships (PPPs) are becoming an increasingly popular way to finance and deliver infrastructure projects. PPPs involve the private sector investing in and operating infrastructure assets, with the government providing some level of support.