The Hindu Business Line : `Construction cos should capitalise on global opportunities'

INDIAN construction industry should pitch for overseas contracts to capitalise on the enormous opportunities available abroad, according to the Minister of State for Commerce and Industry, Ch Vidyasagar Rao.

"India's share of 1.7 per cent in the $3.4-trillion world construction market does not reflect our true potential. There is a lot to be done to emerge as a stronger player on the overseas markets, Mr Rao said at a construction summit on `Building Infrastructure - Going Global' organised by the Confederation of Indian Industry here.

Pointing out that India had a talented and highly-skilled manpower base and a comparative advantage vis-a-vis other countries in the world, the Minister said a strategic approach is required for the domestic industry to make a significant dent in the overseas market.

The overseas construction market in China, South East Asia, CIS countries and some developing countries in Africa are growing at a rapid pace, he said.

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