Goyal Urges Real Estate for ESIC, PF for 70 Million Workers

Union Minister Piyush Goyal urges the real estate industry to provide guaranteed ESIC and provident fund registrations for 70 million workers. He calls for the adoption of new construction technologies, local manufacturing of equipment, and improved industry standards to boost productivity and reduce pollution.

Union Commerce and Industry Minister Piyush Goyal has called on the real estate sector to ensure guaranteed ESIC and provident fund registrations for its 70 million workers. Speaking at the CREDAI event, he emphasized the potential benefits of this move, including enhanced industry credibility and social security coverage for employees.

Goyal advocated for the sector to adopt new construction technologies to expedite project execution with less environmental impact. He also urged firms to establish domestic manufacturing for construction equipment to promote self-reliance, rather than relying on imports.

Highlighting the sector's growth potential, Goyal suggested a temporary reduction in import duties during the transition to local manufacturing. He stressed the need for an industry-led approach to innovation and pollution control to improve productivity and efficiency.

(With inputs from agencies.)