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ARTICLE · 20 SEPTEMBER 2016

Dispute Resolution In The Construction Industry

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The construction industry worldwide is expected to grow approximately 85% by 2030 to 15.5 trillion with India, China and US accounting for 57% of the total growth.

IndiaReal Estate and Construction
Sudip Mullick
Sudip Mullick
Yigal Gabriel
Yigal Gabriel
Niharika Dhall
Niharika Dhall
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Introduction

The construction industry worldwide is expected to grow approximately 85% by 2030 to 15.5 trillion with India, China and US accounting for 57% of the total growth.1 It is one of the major contributors to India's GDP and is expected to be the engine for overall development. However, the industry in India is plagued with delays and cost-overruns. As reported by the Ministry of Statistics, more than 295 infrastructure projects worth INR 150 crore have been delayed with overrun of more than INR 1 lakh crore.2 It can be reasonably presumed that time overrun would lead to cost overrun which in turn would lead to disputes. Thus, it is imperative to demystify the conundrum that is construction disputes to resolve issues efficiently and economically.

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