Union Commerce and Industry Minister Piyush Goyal made a big statement about the real estate sector at the CREDAI conference

sydney : Union Commerce and Industry Minister Piyush Goyal has made a big statement about the real estate sector in a program organized by CREDAI. He has said that 7 crore employees working in this sector should be guaranteed ESIC and Provident Fund registration. He has also called for bringing a new plan for the manufacturing process to reduce pollution from this sector.
Addressing an event organised by CREDAI, the apex organisation of the real estate sector, here, Piyush Goyal said, “I also urge the Indian business world, including real estate companies, to set up manufacturing facilities for construction equipment to make India self-reliant.”
Goyal told the real estate companies, “I request you to think seriously about this, can we ensure guaranteed Employee Provident Fund and Provident Fund registration for all the 7 crore employees and women working in this sector.”
Many positive effects
He told CREDAI that he has come up with a proposal after extensive discussions with its 14,000 members on November 25. November 25 is the 25th anniversary of the Confederation of Real Estate Developers Association of India (CREDAI). Goyal said that if the industry ensures guarantee of ESIC and PF registration, it will have many positive effects on the sector. Elaborating on the possible benefits, he said, “This will give credit and credibility to your real estate industry. People will start appreciating the fact that you are providing employment to 7 crore people and this number will be seen increasing further in the coming years.”
Get credit for good work
Piyush Goyal said that this sector will get credit for its good work. The Union Minister also emphasized on the idea of ​​ensuring 100 percent health coverage by guaranteeing ESIC and PF registration and pension for social security after retirement. Goyal said that this step will increase the capabilities and efficiency of people working in the real estate sector, which will improve quality. He asked Jaxay Shah, Chairman of Quality Council of India (QCI), present at the program, to work together with the Bureau of Indian Standards (BIS) to prepare new standards for the manufacturing sector.
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Goyal also stressed the need to develop a “quality culture” in the industry and said it would not cost much. On CREDAI President Boman Irani’s demand for reducing import duty on manufacturing equipment, the minister suggested that the industry should focus on manufacturing these items in India itself and make the country self-reliant. He said that due to the high growth potential in the real estate sector, there will be a huge demand for manufacturing equipment. He also said that there is no harm in taking collaboration and technological help from abroad. He said, “But I think instead of duties, we should focus on making high quality equipment in India.”
manufacturing will increase
“If we move to steel structures and use ‘precast’ equipment, as we see in Europe, the US, Dubai, Singapore and possibly even Australia, the cost of manufacturing will not increase much but the speed of manufacturing will definitely increase,” Goyal said.
14,000 real estate developer members
Goyal said that the industry will be able to complete real estate projects faster and their cost will also be reduced. ‘Confederation of Real Estate Developers Association of India’ i.e. CREDAI has about 14,000 real estate developer members across the country. CREDAI is organizing its major conference ‘CREDAI Natcon’ here from 23 to 26 September. More than 1,100 people from the real estate world will participate in it.
(With agency input)