Manufacturing and Construction form the core pillars of any economy. From the industrial revolution of the 17th century till the current times, heavy industries have played a crucial role in shaping up the global economy. There are huge challenges the industry faces, shortage of skilled labor, availability of cheap sources of raw material, changing regulatory environment, procurement issues as well as poor project management. Financing of projects also remains a major issue jeopardizing the growth of the sector. Funding delays, project financiers backing out of projects due to dismal economic conditions, lack of adequate government funding are some of the reasons stalling the growth in this segment. Irrespective, heavy industrial leaders are upbeat about the future of this sector. The sector has enough untapped potential to grow, given the high number of transactions taking place in the sector. China has emerged to be the most competitive and industrially advanced nation today leaving behind the market leader “the US”. Emerging and developing countries such as Brazil, India and Korea are expected to come to the centre stage opening opportunities to the millions.
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