New methods of sharing project responsibility between the owners and contractors looks set to accelerate the ongoing digital journey to combat late delivery, budget excesses and poor visibility into performance.
In order to consolidate and accommodate this mass migration, the Government of India has undertaken several initiatives which have given a way to the mega projects, nucleated around the development of industrial clusters, connectivity and increasing India's exports.
It is a well-known and widely accepted datum that infrastructure is the backbone of a sound and growing economy. Amongst all infrastructure, the transport sector facilitates trade and migration, thereby raising productivity in other parts of the economy and directly contributing to the economic growth.
In another ten years, India is expected to have the second largest number of project management jobs in the world after China. Phenomenal growth in project management opportunities will largely be driven by economic expansion and infrastructure projects.
Amidst the chaos seen in the power sector, with 22,000 MW thermal power projects lying idle for the need of coal or gas and lenders taking power generating assets to National Company Law Tribunal (NCLT) to recover dues, the transmission sector- with longer life cycle and lower risks- has exhibited the only ray of hope for investors and developers alike.