New Delhi 4th March 2023: In order to enable India to reach a $5 trillion economy, it would need to include more of its underrepresented women workforce, particularly in its real estate and construction sector, as discussed on the side-lines of 2nd Naredco Mahi Convention. A joint report made by JJL and Naredco Mahi also released at the 2nd Naredco Mahi Convention on March 3. The report also indicates that women’s participation in real estate is estimated at 7 million against men’s 50 million, and there is a 15% pay disparity in the leadership roles of women.
Additionally, the report highlights that only 2% of women hold leadership roles in construction companies, which needs to be addressed. The report has been prepared by Naredco Mahi and JLL and reveals that women constitute 33% of the workforce in India, as compared to 67% men. Employable women make up 52.8% of employable men, with the employability ratio increasing from 46.2% in 2021 to 50.3% in 2022.
In her opening remarks, Dr. Raghuvanshi observed that gender integration in real estate would prove to be an important milestone in the growth of the real estate sector in India, recognizing the contribution of women employees equally. She also felt that skilled workforce in real estate is critical to achieving near-perfection in construction.
The second Naredco Mahi Convention began on March 3, 2023, and a host of panel discussions took place on subjects such as Water Way to go – Jal Bachao Kal Bachao, Green Building and Sustainability, and Scale and Growth of Indian Startups in partnership with WiREnet World. The convention began with a welcome address by Dr. Ananta S Raghuvanshi, Founder Member, and President of Naredco Mahi. An address was also delivered by Mr. Rajan Bandelkar, President of Naredco, who focused on establishing linkages between past and future real estate practices with the integration of modern technologies.
Present on the occasion, Naredco President Mr. Bandelkar believed that the impression that real estate remains a male-dominated industry must disappear, which would be possible if female work participation is encouraged.
Mr. Alok Gupta, Director General of Naredco, and Ms. Preeti Singh, Deputy Director General of Naredco, were also present, and the focus of the convention was to build real estate for every section of society so that the government’s commitment under PM Modi is fulfilled, and other stakeholders in the sector enjoy a win-win situation of building India.
The panel discussion on Water Way to go – Jal Bachao Kal Bachao focused intensely on water treatment, with the best available modern technologies employed in each project where construction activities are picking up and proposed to come up in the future. Participants included Mr. Gurmit Singh Arora, President of the Indian Plumbing Association, who emphasized that stakeholders in construction projects should pledge to save and treat each drop of water to prevent water pilferage.
Mr. Sanjay Dutt, MD and CEO of Tata Realty and Infrastructure Limited, who also took part in the session, pointed out that their real estate and infrastructure projects respect and preserve water bodies and their sources, in order to achieve the goal of “Jal Bachao Kal Bachao” (Save Water, Save Tomorrow). Ms. Meghal Arya, author of “Spatial Ecology of Water,” also emphasized the importance of respecting and honoring water bodies and their preservation, so that water flow is sustained in these properties.
Ms. Smita Patel, Managing Director of SSPL Group, and Ms. Sheetal Bilkar, Director of Urja Building Services Pvt. Ltd, equally stressed the need to save water and called for each drop of water to be valued as precious, as it is essential for our survival.
Likewise, another panel discussion on Green Building and Sustainability was held, with a focus on not only preserving the environment, but also ensuring its sustainability in real estate and construction projects for the future. The session featured participants such as Mr. Nitin Mittal, Chairman of KNest Aluform, Ms. Shabnam Bassi, Associate Director of The Energy and Resources Institute (TERI), Dr. Ruby Makhija, Founder of the Why Waste Wednesdays Foundation, Dr. Sunita Purushotam, Head of Sustainability at Mahindra Lifespaces Developers Ltd., and Ms. Umit Bhatia, Director of Sustainability Strategy, West Asia, JLL
Additionally, an intense deliberation was held on the entrepreneurial mindset scale and growth of Indian startups in partnership with WiREnet World, during which a Memorandum of Understanding was announced between Naredco Mahi and WiREnet World. Ms. Khair ULL Nissa Sheikh, a founder member and Vice President (North) of Naredco, played a crucial role in moderating this panel. The panel discussed ways to promote entrepreneurship in the country and foster an ecosystem that supports the growth of startups in the real estate industry.
One key feature of the memorandum suggested that WiREnet World would provide skilled manpower for the entire real estate industry to meet its multiple requirements, ensuring that the necessary human resources are available for construction and real estate.
Lastly, one of the major highlights of the conference was the presence of the “pond man of India,” Mr. Ramveer Tanwar, and Smt. Sampat Devi, Founder of the Gulabi Gang. Mr. Tanwar expressed his commitment to revive the extinct ponds within Delhi NCR, while Smt. Devi was engaged in conversation with the deputy director of Naredco and its founder members to discuss the contribution of her Gulabi Gang.