Sat, May 27, 2017 | updated 06:06 AM IST

75 mn jobs to be created by realty sector by 2022, says KPMG

Updated: Aug 21, 2016 14:44 IST      
75 mn jobs to be created by realty sector by 2022, says KPMG

New Delhi, Aug. 21 (ANI): According to a report by KPMG India, the real estate and construction sector is expected to generate 75 million jobs by 2022 and emerge as the largest employer in the country.

" Real estate and construction sector in India is expected to be the third largest globally by 2030 contributing over 15 percent to the Indian GDP and emerge as the largest employer in India providing employment opportunities to over 75 million people," KPMG said in a statement.

The report released by KPMG India and the National Real Estate Development Council ( NAREDCO) provides an overview of the key programmes launched by the Central Government in the recent past to address the key challenges in urbanization and the real estate sector.

It highlights India's urban population is forecast to increase about 40 percent to over 580 million by 2030 from 420 million in 2015.

"Nearly 110 million houses would be required by 2022 in urban as well as rural India to provide housing to all citizens. This includes the current shortage of over 60 million houses, out of which around 20 million exist in urban areas," it adds.

The report said real estate and construction sector has attracted over USD 24 billion Foreign Direct Investment ( FDI) between 2000 and 2015.

It also said the 'Housing for All' initiative requires an investment of USD two trillion by 2022, which include 432 projects worth Rs. 6.5 trillion for roads, more than 400 projects worth Rs. six trillion in railways, 70 projects worth Rs. 670 billion for the development of airports and 75 projects worth Rs. 551 billion for the ports.

"With every sixth person getting urbanized globally being an Indian, the real estate and construction sector holds significant opportunity for both global and domestic companies engaged across the value chain," said Partner and Head Building Construction KPMG India Neeraj Bansal,. (ANI)

Pune (Maharashtra) [India],May 26 (ANI-Businesswire India): Bajaj Finserv, India's most diversified financial company, through its lending arm Bajaj Finance, is offering home loans at just 8.50% for a limited period. The special offer is valid till May 29, 2017.

Full Story >>

Jugnoo takes a big leap in restaurant aggregation

Updated: May 26, 2017 16:51 IST     

New Delhi [India], May 26 (ANI-Newsvoir): Jugnoo, India's leading hyper local startup, offering a diverse range of services like rides, ready to eat meals, restaurant food delivery, grocery and B2B Delivery, records phenomenal growth for its restaurant aggregator vertical, menus.

Full Story >>

GST Bill unanimously approved in Tripura

Updated: May 26, 2017 15:15 IST     

Agartala (Tripura) [India], May 26 (ANI): On the concluding day of the three-day session of the Tripura Assembly on Thursday, the Left-ruled state approved the Goods and Services Tax (GST) Bill unanimously by voice vote.

Full Story >>

Sensex surpasses 31,000 mark, shoots by 255.17 points

Updated: May 26, 2017 14:54 IST     

New Delhi [India], May 26 (ANI): Achieving yet another milestone in just a few hours, the Sensex on Friday saw a significant surge, reaching a fresh all time high of 31,005.20, recording a rise by 255.17 points, with Nifty inching closer to the 9,600-mark.

Full Story >>

New Delhi [India], May 26 (ANI): The most economically developed states are not adequately adding to skill sets, which may result in severe shortages of skilled manpower in the coming years, according to an ASSOCHAM-Thought Arbitrage Paper.

Full Story >>

FICCI to set up StudyinIndia pavilion at NAFSA 2017

Updated: May 26, 2017 13:20 IST     

New Delhi [India], May 26 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI), along with the Ministry of Commerce, Government of India and Service Export Promotion Council and in partnership with Education Promotion Society for India will be setting up a 'StudyinIndia' pavilion, leading a delegation of over 50 Indian higher education leaders to the 69th Annual NAFSA conference scheduled to take place from May 28 to June 2 2017, in Los Angeles, U.S.A.

Full Story >>

Atal Pension Yojana registers 53 lakh subscribers

Updated: May 26, 2017 12:36 IST     

New Delhi [India], May 26 (ANI): The subscriber base under the Atal Pension Yojana (APY) reached approximately 53 Lakhs. At present, 235 banks and the Postal Department are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

Full Story >>

New Delhi [India], May 26 (ANI): The Central Board of Direct Taxes (CBDT) on Friday issued a clarification on furnishing statements of financial transactions.

Full Story >>

New Delhi [India], May 26 (ANI): The market on Friday witnessed a surge in its trade with the Sensex and Nifty hitting an all time high of 30,862.63 and 9,534.75 respectively.

Full Story >>

New Delhi [India], May 26 (ANI-BusinessWire India): ITC Limited has won the prestigious Porter Prize 2017 award for 'Excellence in Corporate Governance and Integration' and for its exemplary contribution in 'Creating Shared Value'.

Full Story >>

New Delhi [India], May 26 (ANI): C-Zentrix, a Gartner Magic Quadrant for CCI 2016-recognised product company and a cloud-based advance communication management provider on Thursday announced the launch of two new products in its customer engagement solutions portfolio, 'TrixChat' and 'ZenBot'.

Full Story >>

nexGTv now available on Amazon's Fire TV Stick

Updated: May 26, 2017 08:10 IST     

New Delhi [India], May 26 (ANI): nexGTv, a subscription-led video entertainment app on Thursday made its big-screen debut with its launch on Fire TV Stick, a digital streaming device from Amazon, and is now available on Amazon India.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Rakesh Kapur, Joint Managing Director, Indian Farmers Fertiliser Cooperative Limited (IFFCO), has been elected as the Chairman of the International Fertilizer Association (IFA) at the recent IFA's Annual Conference held from May 22nd - 24th in Marrakech, Morocco in which 1400 participants were present.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Unveiled at its Insights 2017 customer conference, Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, has introduced the latest version of Epicor ERP, the global enterprise resource planning solution in use today by thousands of customers in 150 countries worldwide.

Full Story >>

New Delhi [India], May 25 (ANI): Credit rating agency ICRA expects Indian GDP and gross value added (GVA) at basic prices to expand by 7.1 percent and 6.9 percent, respectively, in year-on-year (YoY) terms in Q4 FY2017.

Full Story >>

New Delhi [India], May 25 (ANI): Alibaba Mobile Business Group on Thursday announced appointment of Young Li as Head of International Business Department.

Full Story >>

New Delhi [India], May 25 (ANI): JobsForHer (JFH), an online connecting portal that enables women on a professional break to restart their careers and achieve their full potential, announces the launch of its second roadshow.

Full Story >>

Aye Finance raises USD 8 mn from Blue Orchard

Updated: May 25, 2017 13:09 IST     

New Delhi [India], May 25 (ANI): Non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India Aye Finance has announced raising USD eight million from Blue Orchard, a leading global impact investment manager.

Full Story >>

New Delhi [India], May 25 (ANI-BusinessWireIndia): International Career and College Counseling (IC3) Conference has announced the second edition of the Annual Conference, that will be held in New Delhi on August 30 and 31 2017 at JW Marriott, Aerocity.

Full Story >>

Chennai, (Tamil Nadu), [India], May 25 (ANI-NewsVoir): MindHour, one of the fastest growing Edu-tech startup based out of Kolkata takes a step ahead and excited to launch its exclusive products in Tamil Nadu to touch the lives of school going children of class 6-10, ICSE and CBSE boards.

Full Story >>