Realty sector to create 75 million jobs by 2022

, 9:40 AM IST

New Delhi: According to a report by KPMG India, real estate and construction sector is expected to generate 75 million jobs by 2022 and emerge as the largest employer in the country. KPMG India and the National Real Estate Development Council (NAREDCO) released a report that provides an overview of the key programmes launched by the central government in the recent past to address the key challenges in urbanisation and the real estate sector.

The report highlighted that Indias urban population is forecast to increase about 40 per cent to over 580 million by 2030 from 420 million in 2015. KPMG in a statement said “Real estate and construction sector in India is expected to be the third largest globally by 2030 contributing over 15 per cent to the Indian GDP and emerge as the largest employer in India providing employment opportunities to over 75 million people.” The size of the construction market is expected to be more than USD 1 trillion by 2030.