NEW DELHI– India is in advanced talks with Australia on a proposal to construct one million homes worth an estimated $500 billion, a move that could become the largest housing collaboration in history, Commerce and Industry Minister Piyush Goyal said.
Speaking at the “Bharat Buildcon 2026” conference in Mumbai last month, Goyal emphasized that the project addresses Australia’s acute housing shortage while opening new opportunities for India’s construction industry and workforce. “If we miss this opportunity, we will have only ourselves to blame,” he said, urging Indian companies and workers to step forward.
According to The Australia Today, the effort is being shaped as a three-way partnership, combining India’s skilled labor, Australia’s housing needs, and the United Arab Emirates’ potential role in financing. Goyal confirmed he has already reached out to the UAE to explore investment participation.
The project comes as Master Builders Australia, the peak body for the $200 billion construction industry, warns of widening shortfalls under the government’s National Housing Accord. Chief Executive Denita Wawn said forecasts show a deepening gap, with only 180,500 homes expected to start in 2024–25—nearly 60,000 fewer than the annual target of 240,000. Over five years, the shortfall could reach more than 180,000 homes.
“Australian builders are keen to get on with the job, but under current conditions, the Accord’s 1.2 million home goal looks less achievable every day,” Wawn said in a statement. She cited rising costs, labor shortages, and slow productivity as major obstacles.
Goyal said the scale of the undertaking demands global cooperation, with India ready to contribute technical expertise and manpower. Training and certification programs are being lined up to ensure Indian workers can meet Australian standards.
The minister positioned the proposal as a “game-changer” not only for addressing Australia’s housing crisis but also for boosting India’s construction, financial, and professional services sectors. (Source: IANS)
