Irish construction bosses are being urged to look to India for future opportunities where the industry is booming.

This morning, construction businesses heard about how much work and money is available in India at a meeting organised by the Ireland India Business Association.

The Association was founded in 2008 to foster commercial links between businesses in both countries.

On its website, the IIBA’s says India could overtake Japan to become the world’s third largest economy behind the US and China by 2012 when measured by purchasing power parity, according to a new forecast by PricewaterhouseCoopers recently.

The Association says India plans to increase investment in infrastructure from 5% GDP to 9% GDP by 2012, which it calculates as a target of $500bn investment in infrastructure over the next five years.

The proposed infrastructure programme includes the $50bn Delhi to Mumbai Industrial Corridor, high-speed railway connecting major cities, a comprehensive road building programme as 90% of roads are currently not suitable for heavy duty trucks, as well as port upgrading and 500 operational airports within a decade.

The Ireland India Business Association in conjunction with the Construction Industry Federation organised today’s meeting to make Irish companies aware of the current opportunities in the real estate and construction sectors in India.

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