ICEMA’s Vision Plan 2030 envisages the Indian CE industry to triple sales volume over the current decade and grow from $6Bn revenue to $25Bn revenue, to become the 2nd largest CE market in the world. This can be achieved by boosting domestic manufacturing, increased localization of components, and increasing export to global markets.
The confidence in growth of the Indian CE industry was reaffirmed by all the speakers, given the Government of India’s push on Infrastructure growth, and its clearly outlined plans such as the US$1.4 Tn National Infrastructure Plan and enabling platforms such as the PM Gati Shakti.
Eminent speakers at the Summit included, Deepak Shetty, CEO & Managing Director, JCB India, V. Vivekanand, Director, Caterpillar India, Pratik Kumar, CEO, Wipro Infra-structure Engineering, Lt Gen Rajeev Chaudhry, VSM, Director General, Border Roads Organization (BRO), Vijay Mittal, Joint Secretary, Ministry of Heavy Industries, and RK Pandey, Member-Projects, NHAI.
Across sessions through the day, a recurrent theme that emerged was the need to ex-tend a Production Linked Incentive (PLI) scheme to grow Indian Construction Equip-ment manufacturing, thereby, enabling CE manufacturers to overcome short-term cost disability, largely led by high logistics cost, and compliance and regulation related costs. The PLI scheme has been effective in sectors such as Auto and Electronics, and the industry experts cited possibility of a similar uplift in the CE industry.
Other key themes that emerged during the Summit was maturing to a single global quality standard to serve global market needs, investments in R&D and technology to promote localization, accelerating adoption of Automation, Technology, and Digital & Analytics in CE manufacturing. This would enhance productivity, quality, and safety in the CE industry, while also accruing a cost advantage.
Speakers shared cases and solutions already being adopted by the industry. A set of key enablers for growing the Indian CE manufacturing also emerged through the dis-cussions. They included reinvigorating the CE industry’s appeal to attract high-quality talent and also structurally strengthening industry-academia collaboration to drive technology adoption and innovation.
Lt Gen Rajeev Chaudhry, VSM, Director General, Border Roads Organization (BRO), during his Special Address at the Exclusive Interactive Session, shared details on how the BRO has been contributing to nation-building and serving the Indian population in difficult terrains. He informed that BRO hopes that the Indian CE industry will innovate and manufacture special application and new-gen Made in India machinery.
Boosting India’s CE manufacturing capabilities is critical to achieving ICEMA’s Vision Plan 2030 for the Indian CE industry. The optimistic flow of ideas at the Summit reaf-firmed the industry’s conviction and commitment to achieving this vision.
The event was supported by key players in the Indian CE industry, namely, JCB, Wirt-gen, ACE, Case New Holland, Caterpillar, Tata Hitachi, Sandhar Technologies, and Yuken along with partners ARAI, BCG, and NBM&CW.