The construction industry is expected to be one of the main drivers of global economic growth. It covers a wide range of activities related to complex infrastructure projects, engineering works, commercial and residential constructions, development projects, and more. The construction industry has important links with other sectors, so its impact on GDP and economic development far exceeds the direct contribution of construction activities. Hence, it is clear that construction is proving to be one of the fastest-growing industries not only globally but also in India. Given such a highly technical and complex industry, it is reasonable to infer that disputes arising from construction activities will also require distinct expertise and an in-depth understanding of the surrounding issues. One of the top ten industries in India generating the most foreign direct investment is construction (infrastructure). The Global Infrastructure Construction Market was estimated to be worth USD 2,242.3 billion in 2021 and is projected to increase to USD 3,267.3 billion by 2027, growing at a 6.48% CAGR during the forecast period[i]
An overview of construction contracts, contract types, and problems associated with construction contracts is given in this research article. The rights of the parties, their potential remedies, and the process for resolving conflicts when they arise in the construction industry are also covered. The primary emphasis of this article is arbitration as an efficient way of alternative dispute resolution and the necessity of efficient case management strategies in arbitration to facilitate effective and timely dispute resolution of construction disagreements.
[i] Infrastructure Construction Market – Growth, Trends, Covid-19 Impact, And Forecasts (2023 – 2028), https://www.mordorintelligence.com/industry-reports/infrastructure-sector, Accessed on 3rd April 2023.