India’s construction industry, boosted by new technology that reduces project costs, may pose a threat to the Sri Lankan industry.

Sri Lankan construction industry has seen considerable progress in view of post-war development activities, says the Chamber of Construction industry (CCI).

As the construction industry grows in the North and East and other parts of the country, new technologies will be highly successful in expediting development workd, Everest Industries Marketing Manager Bijith Purushothaman said.

The industry is looking forward to develop regional construction companies to help the rebuilding efforts in the North and East, CCI said.

Currently, there are only a few large construction companies in the North and East, while a large number of SME companies operate in the region.

According to Purushothaman, high-tech construction solutions from India product may become a big threat to the Sri Lankan construction industry, as they are cost effective and offer a favourable warranty period.

A company from Bangalore, India, has brought new readymade construction solutions to speed up the construction work.

The product is a readymade structure that can be set up with lesser hassles and a shorter period of time.

The reduction of human labour and the timeline could also drastically affect the construction industry jobs in a significant number.

According Purushothaman, although the material-wise cost is slightly high, the cost of labour could be reduced to a third of the normal cost.

The method can be implemented in any sort of structure as it is a readymade product which comes out with in a factory to be planted at the sight.