Implementation and benefits of NEC3 form of contracts in Indian construction industry

India is one of the fastest growing economies of the world in the present scenario. The Indian construction industry has highly contributed in economic growth and development of the nation. In India construction industry is the second largest economic activity after agriculture.The topic “Implementation and Benefits of NEC3 Contract on Construction Industry” is chosen for the research topic because of its relevance and benefits for the construction industry. The research topic would help to identify various key issues and concerns in Indian construction industry. The study for this paper has been carried out in two primary ways; firstly a literature review was carried out to give a deeper understanding of the topic and the nature of the problem (theoretical) and secondly interviews through sample questionnaire took place with those within the industry (practical) to give a more real world view of the issues at hand. The results of the study conclude that the NEC3 is a departure from the traditional approaches that have existed in the form of other contracts as well as previous versions of the same contract. The usage of clauses, that too in simple language, paves the way for basis of a range of construction contracts covering different pathways for procurement of materials. After a thorough analysis of the data, following areas have been found which can be useful subjects for future research.More parameters, both specific to NEC3 and the other general contracts in the construction industry can be worked upon to find specific platforms where these contracts can be suitable and most appropriate in terms of usage and effectiveness.