Commerce and Industry Minister Piyush Goyal emphasized the significance of areas like well-regulated real estate landscape and technology through artificial intelligence and block chain for revolutionizing the real estate sector, on Saturday. Goyal stated that the adoption of green solutions for sustainable buildings in India will help the country to address the global challenge of climate change.
The rapid resolution of real estate sector difficulties heightened the sector’s progress and has resolved a lot of concerns that loomed large in Mumbai and Delhi, stated the minister. He gave a few tactics to empower the sector such as developing a credible and well-regulated property sector, greater use of AI, blockchain, and virtual reality.
He said that India is projected to become the third largest construction market in the next two to three years and is likely to be the second-biggest employment provider in the segment, while addressing the National Investiture Ceremony of CREDAI (Confederation of Real Estate Developers’ Associations of India).
Greater good governance practices created peace of mind for buyers and everybody involved in this sector. Also, the services of the related Economic and Bankruptcy Code tide down all difficulties in the domain.
The ministerial speech also directed that ordered and straightforward business in the industry is respected, promoted, and cherished. It also passed the message to everyone involved in the sector that those who use preferential benefits and non-transparent tactics in the real estate will face the heat of the law.
Goyal urged the sector leaders to bolster youth and inclusion in the teams to build a revolution and propel sustainability of growth.
One of India’s top-most real estate firm, the CREDAI is a national summit of real estate developers’ associations of India operating in 22 states and more than 200 cities. The firm primarily works by initiating and energizing real estate markets and offering better living environments, thereby boosting productive and functional growth of the industry.
A senior politician and a current Cabinet Minister of the Union government, Piyush Goyal holds the railways and commerce portfolio. He is also the Minister of Consumer Affairs, Food and Public Distribution. He actively promotes the ‘Atmanirbhar Bharat’ mission and converses with stakeholders in different businesses to aid growth and development. He has long been a spokesperson of the BJP at various political platforms and personal advisor to former Prime Minister Atal Bihari Vajpayee.
