Piyush Goyal Urges CREDAI to Formalise Labour, Focus on Sustainability & Affordable Housing

GG News Bureau
New Delhi, 26th Nov. Union Minister for Commerce and Industry, Piyush Goyal, on Monday urged the real estate sector to formalise its workforce, emphasising the importance of providing social security to labourers. Speaking at the 25th Foundation Day of CREDAI (Confederation of Real Estate Developers’ Associations of India), Goyal stressed that ensuring workers are employed formally with benefits like insurance (ESIC) and provident fund (EPFO) will help align employees with the sector’s growth objectives, improving productivity and profits.

Goyal called on CREDAI to formalise its 14,000 members and ensure that all payments are made digitally, a move that would enhance transparency and contribute to national employment statistics. This approach would ensure that the real estate sector’s significant role in India’s employment landscape is fully recognised, he added.

Addressing environmental concerns, Goyal also urged CREDAI to explore innovative construction techniques that reduce pollution. He proposed the use of steel and precast fabrication to speed up construction while reducing air quality issues in metropolitan cities. He further suggested that the industry should take this mission seriously and report its efforts to the government.

The minister acknowledged CREDAI’s contribution to the nation’s growth, noting that the real estate sector plays a crucial role in India’s economic development. He also lauded efforts like the introduction of RERA (Real Estate (Regulation and Development) Act) and GST, which have led to a more organised real estate market, making homeownership more accessible and dispute-free.

On affordable housing, Goyal announced the government’s intention to work with CREDAI to address rental housing issues and develop rehabilitation programs for slum dwellers. He stressed that affordable rental housing is key to curbing the growth of slums in cities.

Encouraging the sector to expand globally, Goyal urged industry leaders to seek opportunities abroad, noting that such initiatives would enhance India’s export capabilities and contribute to the nation’s infrastructure services.

In conclusion, Goyal reiterated that for India to become a net-zero nation, it is essential to start with net-zero localities, urging the real estate industry to play a leading role in recycling construction waste and contributing to the circular economy.