Indian Construction Equipment Sector - Seeing Unprecedented Growth & Intelligentization
S.A.Faridi
The Indian equipment sector is undergoing sweeping changes not just in terms of higher demand amid the government’s resolve to build world-class infrastructure, but also due to the digitalization and intelligentization of manufacturing for rolling out highly advanced equipment.
Overview
The Indian economy has been growing at a rate of 7.5 percent for the past four years, placing it amongst the highest in the world. Government’s efforts to make India a top investment destination has been affirmed by the World Bank’s ‘ease of doing business’ survey across 190 countries, which ranked India to 77th position from 137th three years ago. Liberalization in FDI policy has also helped India attract a whopping $105 billion of foreign investment during fiscal years 2016-17 and 2017-18.
Despite the risks and challenges, the government has given top priority to infrastructure development, which has led to rising sales of equipment, especially earthmoving, road building, material handling, air compressors, concrete manufacturing, transporting and placing equipment, crushing & screening, among others, with sales set to cross 1,10,000 units in 2018.
The Indian equipment sector is undergoing sweeping changes not just in terms of higher demand amid the government’s resolve to build world-class infrastructure, but also due to the digitalization and intelligentization of manufacturing for rolling out highly advanced equipment.
Overview
Despite the risks and challenges, the government has given top priority to infrastructure development, which has led to rising sales of equipment, especially earthmoving, road building, material handling, air compressors, concrete manufacturing, transporting and placing equipment, crushing & screening, among others, with sales set to cross 1,10,000 units in 2018.
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NBM&CW December 2018
